Evaluating and Emerging Payment Card Fraud Challenges and Resolution

Abstract

Payment card fraud losses for the card payment industry is generating billions of dollars. In addition to direct damage, the brand name due to fraud can be affected by a lack of customer faith. These cause the deficit is rising, financial institutions and card issuers are constantly new technologies and innovative payment card fraud detection and prevention are demanding. Fraudsters, customers and defense organizations around the world is applied various resolution financial institutions, payment card fraud. The solution is better spent on risk management techniques to predict label use, and customer experience management are designed with the aim of preventing losses. By retaining the right balance between these purposes operational risk management philosophy is driven by a firm. The aim is to protect the gainful customers by delivering them with a stable positive experience. This paper deliberates the solution of payment card fraud and discuss the various attributes of an effective payment card and its applied thoughts. Inspite of this, paper also reviews challenges, the concepts associated to the profiling of card-holder, advanced analytics, metrics to be followed, and mechanisms of the resolution of card fraud.