The Verification of Payee (VoP) measure ensures that payment details align with account information, serving as a key step in preventing fraud and misdirected payments.
PSD2 enforces strict security requirements for electronic payments and mandates Strong Customer Authentication (SCA), ensuring users' identities are rigorously verified during transactions.
Real-Time Fraud Detection leverages advanced algorithms and machine learning, allowing financial institutions to quickly identify and prevent fraudulent activities as they occur.
Future trends in payment security, including AI and biometrics, indicate a shift towards even more sophisticated methods of enhancing security measures in financial transactions.
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