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Card Fraud Worldwide Card-Based Payment Systems Worldwide Generated Gross Fraud Losses of $28.65 Billion in 2019, Amounting to 6.8¢ for Every $100 of Total Volume

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ISSUE 1187 DECEMBER 2020 ARTICLES IN THIS ISSUE p4 Card Fraud Losses Worldwide p9 Top 150 Debit Card Issuers Worldwide p7 Purewrist Wearables for Contactless Payments p11 Krowd’s Marketplace for Card-Linked Offers p8 Global GP Cards at Midyear p12 Payment Card Shipments p9 PNC to Acquire BBVA Payment by Manufacturer Card Assets p14 Cryptocurrency Cards Use i2c Card Fraud Worldwide Card-based payment systems worldwide generated gross fraud losses of $28.65 billion in 2019, amounting to 6.8¢ for every $100 of total volume. Read full article on page 4 CARD FRAUD IN BILLIONS CARD FRAUD IN CENTS PER $100 OF TOTAL VOLUME 7.0¢ 7.0¢ 6.8¢ 7.1¢ 6.5¢ 6.3¢ 5.5¢ 6.1¢ $38.50 $35.31 $32.96 $32.04 $28.65 $23.97 $21.84 $13.70 2013 2015 2017 2019 2021 2023 2025 2027 © 2020 Nilson Report FOR 50 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE CONTENTS COVER STORY Card Fraud Losses Worldwide Top 150 Debit Card Card issuers, merchants and acquirers experienced gross fraud losses of $28.65 Issuers Worldwide billion, an increase of 2.9% from $27.85 billion in 2018. Purchase volume totaling $10.476 trillion was p4 up 3.5% from $10.123 trillion in 2018. p9 Krowd’s Marketplace Calculated at 6.78¢ for every $100 for Card Offers in total volume, fraud losses in 2019 The company claims its prediction algorithms are 50% more effective than were down from 6.86¢ per $100 for those of its competitors. the previous year p11 Payment Cards Shipped in 2019 Purewrist Wearables for Contactless There were 3.43 billion credit, debit and prepaid payment cards shipped by the top Payments six manufacturers worldwide in 2019. Bracelets are available for sale in the U.S., and Purewrist plans to expand p12 into South America, followed by the Middle East and Asia. p7 Cryptocurrency Cards Use i2c Processing Global General Purpose Cards at Midyear Four of the largest companies linking crypto- Purchase volume for the first six months of 2020 amounted to $13.512 trillion, currencies to real-world spending via Visa and down 3.8% versus the same period in 2019. Mastercard networks are clients of i2c. p8 p14 The expanded PNC REGULAR FEATURES will have p3 First Look p15 Management Changes 12.3 mil. debit cards FEATURED IN OUR UPCOMING ISSUE PNC to Acquire BBVA Payment Consumer Payment Systems Card Assets in the U.S. The acquisition will create the fifth largest bank holding In our annual report we break down personal consumption company in the U.S. expenditures into all card-based (credit, debit, prepaid, EBT), paper-based (cash, checks, money orders, official checks) and p9 digital-based (preauthorized and remote) payment instruments for calendar year 2019. We also provide a 5-year projection. PHOTO CREDITS: Cover and back page Coline Beulin on Unsplash; p2 21-3018 (top) and Echo Grid (bottom) on Unsplash; p4 Michal Kubalczyk on Unsplash; p11 Drahomir Posteby Mach on Unsplash First Look News in brief on payment industry trends around the world. FISERV enables payments at ExxonMobil TD, Canada’s largest credit card issuer, ABU DHABI ISLAMIC BANK in the United locations from consumers who use the has upgraded its TD Aeroplan Visa credit Arab Emirates has opened 15,000 NFC- Google Pay app, either by scanning a QR card portfolio. Current TD Aeroplan enabled POS terminals to UnionPay card code on the pump or by activating the Visa cardholders will automatically get and contactless payment transactions. pump from within the Google Pay app on access to the updated card benefits and Kutbuddin Gheewala is Head of Operations— iOS or Android devices. Aeroplan program. Merchant Acquiring at ADIB, kutbuddin.gheewala@ Josh Woodward is Director at Google Pay, Katy Boshart is SVP, Canadian Credit Cards at TD, adib.ae, www.adib.ae. [email protected], www.google.com. [email protected], www.td.com. Nandan Sheth is Head of Global Digital Commerce at XTM, a Toronto-based fintech that Fiserv, [email protected], www.fiserv.com. PAYMENT ALLIANCE INTERNATIONAL provides mobile banking, has launched will offer Bitcoin-to-cash capabilities at an unsecured Visa credit card program XOOM, PayPal’s remittance service, over 95,000 ATMs through a partnership called the Vert Card. Younger adults can offers customers in the U.S. the ability with B4U Financial. Authorization, use the card to establish credit. Vert Card to send money directly to a recipient’s clearing and settlement will be handled also offers any adult the opportunity to eligible bank account or debit card by B4U. reestablish or repair their credit. Credit online or through Xoom’s mobile app. David Dove is CEO at PAI, [email protected], limits range from $250 to $500. Recipients can receive funds without www.gopai.com. T. Jack Williams is CEO at B4U Marilyn Schaffer is CEO at XTM, mschaffer@ needing to sign up for an account with Financial, [email protected], xtminc.com, www.xtminc.com. Xoom or PayPal or fill out any forms. www.b4ufinancial.com. Julian King is VP and General Manager at Xoom, SEON’S fraud prevention tool will be [email protected], www.xoom.com. OP FINANCIAL GROUP in Finland and used to help identify users who attempt TietoEvry, supplier of Visa and to open multiple accounts on Unikrn’s PAYONEER’S payment orchestration Mastercard cards to OP Bank as well as bookmaking platform. platform is available to ecommerce related personalization services, have Tames Kadar is CEO at Seon, [email protected], merchants in North America that want agreed to cooperate on a biometric www.seon.io. to accept international payments. The payment card pilot. Tag Systems and platform serves as a technical layer that Zwipe are partners. KLARNA, a buy now, pay later provider, provides the merchant with a single Jarmo Rouhiainen is Head of Card Production and has expanded its in-store payment integration connecting them to more Personalization at TietoEvry, jarmo.rouhiainen@ services to more than 60,000 U.S. than 100 payment providers, payment tietoevry.com, www.tietoevry.com. Teemu Korte locations. Brands include H&M, The methods and risk providers. is Head of Payment Cards at OP Financial, North Face and Timberland. To pay [email protected], www.op.fi. Keren Levy is COO, [email protected], in physical stores, customers use the www.payoneer.com. Klarna app to create a one-time virtual CITI has selected Mastercard as its card that gets added to their digital INCOMM PAYMENTS has partnered network partner for the Citi Plex Account wallet. They then use their mobile device with Mastercard to launch on Google Pay, a digital checking and to make a contactless payment. mastercardgiftcard.com, a website that savings account to be launched in 2021. David Sykes is Head of U.S. at Klarna, david.sykes@ exclusively sells Mastercard prepaid Citi Plex Account customers will receive klarna.com, www.klarna.com. cards and distributes them by email and an automatically provisioned instant mail. Cards can be added to Apple Pay, digital debit Mastercard card. An optional a provider of Google Pay and Samsung Pay wallets. contactless-enabled physical debit P97 NETWORKS, Mastercard will be available. cloud-based mobile commerce John Levitsky is EVP Account Management at technology, will enable mobile payments Alpesh Chokshi is Head of Business Development Mastercard, [email protected], for fuel at Shell gas stations from within at Citi’s Global Consumer Bank, alpesh.chokshi@ www.mastercard.com. Adam Brault is SVP of the updated Google Pay mobile app on citi.com, www.citi.com. Meredith Spatz is EVP, Financial Services at InComm Payments, Android and iOS devices. [email protected], www.incomm.com. North America at Mastercard, meredith.spatz@ mastercard.com, www.mastercard.com. Donald Frieden is CEO at P97 Networks, [email protected], www.p97.com. www.nilsonreport.com NILSON REPORT 3 Card Fraud Losses Reach $28.65 Billion STORY COVER Purchases of goods and services as well as cash advances involve costly manual reviews of pending sales, even though and withdrawals (including on-us ATM activity) tied to global 90% of those transactions are approved. About 40% of fraud brand and domestic-market-only general purpose and private mitigation costs involve manual review of CNP transactions. label credit, debit and prepaid cards worldwide amounted to $42.274 trillion in 2019, up 4.2% over 2018. American Express, Diners Club/Discover, JCB, Mastercard, Visa, and UnionPay—the global general purpose brands— Gross fraud losses to issuers, merchants and acquirers of generated a combined $34.880 trillion in card volume card transactions from merchants, as well as acquirers of card (purchases and cash combined) in 2019, equal to 82.51% of transactions from ATMs reached $28.65 billion, up 2.9% from the worldwide total. $27.85 billion in 2018. That figure does not include billions of dollars in fraud losses tied to QR code-based and push Global brand card losses to fraud reached $25.53 billion in payments (bank account to bank account transfers). 2019, up 2.7% over $24.86 billion in 2018. Global brand cards accounted for 89.11% of total gross fraud losses worldwide in Dollars lost to fraud rise every year in the U.S. and worldwide. 2019, down from 89.26% in 2018. The measure of success against criminals attempting fraud is p5 basis points per every $100 in total volume. Card-based payment systems worldwide experienced gross fraud losses equal to 6.78¢ for every $100 of total volume in Fraud by Type of Card 2019. This was a decline from 6.86¢ per $100 the previous year.
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