Note:This blog was written by an independent guest blogger.
Digital payments are the future of commerce, but security concerns have created a major barrier to their popularity. A study of businesses conducted by the influential PCI Security Standards Council found that 67% of respondents cited a lack of visible security options as a reason for not adopting a digital payments service. A paucity of viable security options, both in terms of product quality and the level of protection that can be offered, has been a stumbling block in the digital payments sector; however, industry indicators suggest that this is beginning to change and good quality products will soon be widespread.
Big businesses tackling fraud
Financial fraud directed at small businesses will have effects felt most acutely the business itself. However, the mechanisms through which businesses reclaim fraud-related losses have impacts on the institutions that provide banking…