March 25, 2020
The event started with a fascinating keynote from the investigative journalists who worked on the Panama Papers case. Even though a case of this magnitude was exposed, they argued, the story isn’t over. They expect to see more such cases in the future, which means that risk management professionals and regulators need to be more vigilant than ever.
The journalists talked about the challenges of carrying out the case investigation and about releasing such a huge story at the right time and in the right way. And last, but certainly not least: the importance of protecting their sources.
The Panama Papers case was the result of a worldwide collaboration between journalists. They didn’t know each other but had to trust one another to make an incredible story like this a journalistic success. We see here a recurring theme: trust and collaboration between peers for powerful results.
The risk management sector hasn’t changed much in the past year. In fact, we’re dealing with the same challenges from the past decade. However, we’re seeing more effort from regulators, card associations and acquirers in overcoming these with new approaches. Securing the payment ecosystem is the ultimate goal on all our agendas, so each industry player is working towards doing their part in bringing more security.
One thing merchants should keep in mind is that they should work more closely with their acquirer. As an experienced acquirer, we can advise on how merchants can get the most of transactions by managing declines and increasing authorization rates.
The focus nowadays is on securing payments with technologies that bring a higher level of fraud prevention. These include authentication, 3DS 2.2 and tokenization. These technologies are all about data movement, making sure that the right people have the access to the right data which can be used in the right way.
With the increasing amount of false positives as well as regulatory scrutiny, the industry needs to perform their due diligence and monitoring processes more efficiently. With a tech-based, agile approach, regtech supports all players in enhancing these processes and keeping them up to date with the rapid pace of the sector.
We're a global payment processor that’s driven by a passion for technology and simplifying payments. With one single, secure platform, we power transactions for businesses across the globe. We know our way around the latest techniques in artificial intelligence, omnichannel strategies and advanced fraud prevention. The dedication to our clients shows – this is where we truly make a difference.
Known as the payments industry’s knowledge hub, MPE Berlin is always the place to be when looking to get fresh insights, check in with merchants and exchange best practices with peers.
With the value of online travel bookings estimated to hit $837 billion in 2017, it’s a good time to be an online travel agency (OTA).
We enjoyed attending the Global Acquiring Conference (GAC), in London, May 5-7.
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