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A report states an Australian man trying to pay with cash at the Apple Store in the Sydney suburb of Chatswood was pushed to pay with Apple Pay, resulting in the man buying at a different store instead.

Published in Fuzzy Logic

Michel van Aalten, Adyen country manager ANZ

According to the Australian Payments Network, payment fraud on Australian credit cards hit $476 million in 2017, surging from $218.1 million in 2016. As of 2018, online card fraud now accounts for 85 per cent of all card fraud in Australia.

Retailers worldwide are set to lose some US$130 billion in digital CNP (Card-not-Present) fraud between 2018 and 2023, according to a new report highlighting the use of increasingly complex approaches by fraudsters.

Published in Security
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