mdk.Update #10/22: Weekly insights from Telecoms, payment, security, eCommerce & online fraud
In this week’s market update, we have curated the following articles for you.
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Online security and fraud prevention
WASPA partners with Evina for secure mobile payments
he Wireless Application Service Providers Association (WASPA) has partnered with international cyber security company, Evina.
The Ugly Sisters of e-Commerce
E-commerce has a not-so-friendly side to it. Chargebacks and friendly fraud create billions in damages annually
Why European Merchants are Paying 3x More for Fraud Than They Lose
European merchants spent nearly €7 billion on fraud detection and prevention in 2021 alone – more than three times the value lost to fraud in the same year, estimate leading payments advisors CMSPI. These practices are unsustainable for the continent’s merchants, who are currently facing compound annual fraud growth of 1.5%1. As retailers’ margins are squeezed, fraud and its wider impacts are just another inflationary pressure that see merchants and good customers losing out.
Innovation and “out of the box” thinking
The telecoms industry has an innovation problem – Rakuten
A ‘legacy way of thinking’ is stifling innovation in the telcoms industry, and operators will need to adopt new business models in order to not be relegated to utility providers, claims Rakuten.
Meta and Telefonica partner to create a Metaverse Innovation Hub
At MWC 2022 this week, Meta and Telefonica have announced a new partnership to build a Metaverse Innovation Hub in Madrid. The Hub will offer local startups and developers access to a 5G laboratory enabling them to use a metaverse end-to-end testbed on Meta and Telefonica’s networks and equipment.
The purpose of the hub is to accelerate metaverse network and device readiness by trials new network architectures, use cases and devices.
Thales payShield 10K protects critical payment transactions in Azure
Thales announced its payShield 10K technology is helping to deliver Microsoft Azure Payment Hardware Security Module (HSM), a new service that provides cryptographic key operations to protect real-time, critical payment transactions in Azure.
Market outlook and development
Zahlungsanbieter stellen Betrieb in Russland ein
Als Reaktion auf den Ukraine-Krieg haben die Kreditkartenanbieter Visa, Mastercard, American Express sowie die Online-Bezahlplattform Paypal ihre Arbeit in Russland eingestellt. Das sind die Auswirkungen für Kunden, Partner, Händler und Karteninhaber.