Items tagged with 'APACS'
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Preventing prepaid card fraud
Chip and pin has stumped high-street card fraudsters, so they’re turning to alternative ways to transfer funds from stolen cards.
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Visa vouchers for 9 million new online shoppers?
Almost nine million people have been left out in the cold from the internet shopping revolution according to figures from APACS in an Online Shopper study by 3V Transactional Services. -
[Editorial] Internet accounts for 46% of card fraud
Fraudulent use of bank cards in internet, phone and mail order transactions between January and June rose by 5% over the same period of 2005, according to payments association APACS. The actual losses from these cardholder not present transactions stood at £95.3m and are seen as only small increase when compared to the growth in the number of transactions performed online. APACS says that 26.4 million people now shop online with an estimated 372 million transactions undertaken in 2005. -
Fraudsters move to online retail
The overall value of fraudulent credit card transactions in the UK fell in 2006 but fraud levels online increased, according to banking association APACS. Card-not-present fraud, which includes internet, telephone and postal transactions, rose to £212.6m. This represents a 16% increase over 2005's figure of £183.2m. -
Happy Birthday to online banking and the debit card
Online banking in the UK celebrated its 10th anniversary this week (27 May) and Sunday marks 20 years of the debit card (introduced by Barclays in 1987). -
Faster funds clearing delayed to 2008
The launch of a new, faster payment clearing system for the UK has been postponed until next year. The launch was scheduled for November when it would coincide with changes to the cheque clearing processes. -
Online bankers purchase more online
Some 252 million transactions were performed online last year using a credit card - an increase of 29% on the previous year, according to APACS. Confidence in e-commerce is getting another boost as ten million UK-issued payment cards have now been registered with MasterCard SecureCode and Verified by Visa services - making these cards more secure when shopping online. -
Online shopping set to exceed £5 billion in December
APACS, the UK payments association, expects Christmas shoppers to spend over £5 billion online this December.
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Card fraud up again
Card fraud is rising after two years, with card not present and counterfeit fraud accounting for the majority of the fraud.