Simon Rushforth of Featurespace depicts the contactless payments adoption status and the contactless fraud that is looming on the horizon
For the first time, more payment transactions in the UK are made using a contactless card or device instead of chip and pin. This is clearly a boon for retailers, as it becomes even easier to make a transaction, but an uptick in frictionless payments also might mean an increase in contactless fraud.
About Simon Rushforth
Simon has over 16 years’ experience in fraud operations and payments. Having worked in all elements of the payment chain, including merchants, acquirers, payments services providers and qualified security assessors – Simon has gained a wealth of knowledge in multi-channel fraud prevention, payments and credit risk, and payment security and compliance. At Featurespace, Simon further strengthens the financial services product team and ensure that the development of our ARIC platform matches our customers’ needs and expectations for fraud prevention in financial services.