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The report provides information and insights into best practices in managing credit risks associated with credit cards:
Provides a global snapshot of card fraud and key fraud hotspots across the world
Comprehensive analysis of card fraud market size in developed and emerging markets
Analysis of various types of card frauds and its implication on issuers and acquirers, customers and merchants
Detailed analysis of macroeconomic, regulatory and operational challenges in managing credit card risks
Provides emerging trends in credit card risk management by governments, regulatory bodies and market participants
Provides a detailed framework of best practices in credit card risk management, segmented by issuers, acquirers, network providers and merchants
Includes case studies showcasing the best practices with examples and their impact assessment
The convenience offered by credit cards to make payments is exploited for fraudulent activities, resulting in the loss of millions of dollars every year around the world. In order to control and limit these risks and losses, a proper risk management framework is required to be established. Over the last five years, card issuers, acquirers, merchants and network operators have adopted and implemented a host of security measures, regulations and business strategies to lower the chances of fraud and credit losses. However, they are limited by several macroeconomic, regulatory and operational challenges. The management of risk associated with credit cards requires continuous efforts from every participant of the card payment industry. However, to do so, development of a best practice framework is of utmost importance. A well developed framework facilitates a better understanding of risks and areas which require attention from the intended parties, and formulates strategies to address them.
This report provides a comprehensive analysis of best practices in credit card risk management with emerging trends in market practices by issuers, acquirers, network operators and merchants
The report also covers regulatory developments across key regions such as Europe, North America and Asia-Pacific
It provides current fraud statistics in developed and emerging markets
It outlines key macroeconomic, regulatory and operational challenges in managing credit card risks
It illustrates adoption and implications of best practices with the help of detailed case studies
Reasons To Buy
Credit card risks result in the loss of millions of dollars every year impacting every participant of the cards and payments industry
Gain insight into various risks resulting from macroeconomic developments, customer protection laws and operational difficulties
Understand the emerging trends in managing risk and limiting exposure to credit loss
Assess the regulatory landscape in key regions around the globe
Gain insight into the development of an effective risk management framework
Although card fraud is much higher in value terms in developed economies such as the US, the UK and France, these countries have been successful in limiting the growth of fraud by adopting advanced security measures, innovative products and strict regulations. Emerging economies like China and Russia have lagged behind in introducing such measures and have therefore witnessed significant growth in card fraud.
Among the developed markets, the value of card fraud was highest in the US.
Regulations such as the single euro payment area card framework (SEPA) and anti-money laundering regulation have indirectly helped in the managing of these risks. Other measures taken by regulatory bodies which include restriction on issuance of credit cards to high risk customers, increases in age requirement, high income requirements for issuance of a credit card and a limit on the number of cards a consumer can have has also helped in managing risks.
Industry participants have adopted and implemented a host of security measures, regulations and business strategies to lower the chances of fraud and credit losses. These measures include EMV chip and PIN credit cards, anti-skimming technologies, guarantors for high risk customers, secured credit cards and charge cards, behavior analysis, high-end security for online shopping such as virtual keypads, SMS verifications and one-time passwords.