Visa Views: Looking ahead at payment security
The evolution of security and risk management will better accommodate modern ways to pay and be paid.
As we enter into the final month of the quarter, some people continue to work towards their New Year’s resolutions and try to commit to a change in lifestyle—eat healthier, exercise more, and achieve more work-life balance.
Change that leads to improvement is usually good in my opinion, and in my role at Visa, I anticipate some healthy changes ahead for the payment industry. A lot of investment and innovation has taken place over the years to secure digital channels for payments, and I expect growing momentum for many of those security innovations. Of course, no one can perfectly predict what is to come but here is my take on possible payment security trends for the rest of 2019.
1. In-person payment fraud will continue to decline through modern card technology.
Despite the global growth in e-commerce, consumers around the world still make purchases in person. Fortunately, chip technology has helped drive down in-person counterfeit payment fraud by more than 80 percent in the United States in recent years.
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