PYMNTS.com Digital Identity TrackerTM, powered by Socure, Releases the Latest Industry News in and Around Secure Convenience Through Biometrics and Other Sustainable Alternatives to Passwords

Boston, MA – March 31, 2016 – PYMNTS.com, the premier source for “what’s next” in payments and commerce, recently announced that Socure will now be powering the PYMNTS.com Digital Identity Tracker

The March edition of the Digital Identity Tracker, a forum for framing and addressing key issues and trends in fraud and identity protection, surfaces several new data points that speak to the evolution in the market. With the addition of 9 new player profiles — now totaling 110 companies – platforms are categorized by four key digital identity capability areas: generate, store, secure, and interact.

The onset of the Europay, MasterCard and Visa (EMV) chip technology standard is one of the top trends in the market. This month’s Tracker details that online fraud has seen an 80-100% increase, according to a Trustdev survey of consumer behavior after the EMV shift.

“Fraudsters have been able to stay one step ahead,” said Karen Webster, CEO of PYMNTS.com. “Payments and ecommerce executives have been committed to take advantage of the tools and platforms available to verify consumer identity online. The Digital Identity Tracker is an indispensable resource for staying ahead of this constantly-evolving market.”Digital Identity Tracker

 Other highlights from the survey include:

  • Only 1.1% of consumers indicated the use of mobile payments – widely considered to be the best defense against fraudsters – as the payment method most often used to pay for purchases.
  • Total revenues lost from eCommerce transactions due to fraud nearly doubled from 2014(0.68%) to 2015(1.32%)
  • There is a 15% year-over-year increase of money spent online

“The ability to trust in digital identity lies at the nexus of everything we do online,” said Sunil Madhu, CEO and founder of Socure. “PYMNTS.com provides a resource that helps institutions sort through the plethora of vendors and solutions, to understand which offerings can best address their need to accept more new consumers, reduce fraud and comply with regulations.”

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ABOUT PYMNTS.com
PYMNTS is reinventing the way in which companies in payments share relevant information about the initiatives that shape the future of payments and commerce and make news. This powerful B2B platform is the No. 1 site for the payments and broader commerce ecosystem by traffic and the premier source of information about “what’s next” in payments. C-suite and VP level executives turn to it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. PYMNTS.com... where the best minds and best content meet on the Web to learn “what’s next” in payments and commerce  

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Socure is the leading platform for digital identity trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from email, phone, address, IP, device, velocity, and the broader internet to verify identities in real time. The company has more than 500 customers across the financial services, gaming, telecom, and e-commerce industries, including three of the top five banks, seven of the top 10 card issuers, three of the top MSBs, the top payroll provider, the top credit bureau, and over 100 of the largest and most successful FinTechs. Marquee customers include Chime, Varo Money, Public, Stash, and DraftKings. Investors include Accel, Commerce Ventures, Scale Venture Partners, Flint Capital, Capital One Ventures, Citi Ventures, Wells Fargo Strategic Capital, Synchrony, Sorenson, Two Sigma Ventures, and others.

Socure has received numerous industry awards and accolades, including being named to Forbes America’s Best Startup Employers 2021, being awarded Best New Technology Introduced over the Last 12 Months – Data and Data Services at the 2020 American Financial Technology Awards (AFTAs), being ranked number 70 in Deloitte’s Technology Fast 500™, being listed as a Gartner Cool Vendor, being recognized by Forbes as one of the Top 25 Machine Learning Startups to Watch, being named to CB Insights: The FinTech 250, and being awarded Finovate’s Award for Best Use of AI/ML, to name a few.

Contact

Janine Savarese
Savarese Communications
(908) 461-5767
jsavlowe@savcopr.com