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IndustryUpdate

in the digital payments sector is
ingly commoditized business models are eroding payment profits, resulting in driving the market for global fin-
some services failing to break even. On the upside, researchers found a clear tech, researchers found. "Fintech
link between payment transformation priority and profit, with banks commit- has made payments for goods and
ted to investment demonstrating higher margins and more positive returns. services faster, easier, more con-
venient, and cost-efficient for cus-
Fintech market at $309.98 billion by 2022 tomers," they wrote. "Customers
can now pay for various goods and
According to The Business Research Co., the global fintech market was services via cryptocurrency, loy-
valued at approximately $127.66 billion in 2018, and is expected to grow to alty points and other digital cash
$309.98 billion at an annual growth rate of 24.8 percent through 2022. Growth alternatives."

Erroneous assumption causing
security challenge
Panaseer, which offers a
Continuous Controls Monitoring
platform for enterprise cyberse-
curity, released results of a July
2019 study conducted by Forrester
Consulting. Titled Cybersecurity
Requires Controls Monitoring To
Ensure Complete Asset Protection,
the study found the key challenge
facing security leaders – and put-
ting their organizations at risk of
breach – is misplaced confidence
that the technology investments
they have made have strengthened
their security posture.

PARTNERSHIPS

Chargeback Gurus, Sift devise
integrated solution
According to chargeback man-
agement and analytics solutions
provider Chargeback Gurus and
Sift, a specialist in digital trust
and safety, true fraud and friendly
fraud are on the rise. Sift research
indicated that on average, 10 to 15
percent of chargebacks occur due
to true fraud; Chargeback Guru
data shows that 60 to 85 percent of
chargebacks occur due to friendly
fraud. To combat this, the com-
panies partnered to form an inte-
grated solution to help businesses
minimize both true- and friendly-
fraud chargebacks.

PCI SSC, Wnet form
strategic partnership

The PCI Security Standards
Council and Women's Network
in Electronic Transactions (Wnet)

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