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May 13, 2020

CyberloQ and TPML join forces to counter online payment fraud

CyberloQ Technologies has entered into a new alliance with Transact Payments Malta (TPML), a unit of Transact Payments (TPL) to counter online payment fraud.

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What does the future hold for BNPL market?

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  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
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CyberloQ is a multi-factor authentication application for smartphones, tablets and laptops.

Under the collaboration, TPML will integrate CyberloQ’s customisable approach to data security, including geofencing protection, to provide an additional layer of security to its partners.

The companies hope that this integration will lead to the prevention of online payment fraud within multiple card networks in Europe and other regions.

CyberloQ president Chris Jackson said: “Now more than ever, the payment industry needs to be uber-vigilant in protecting client assets, personal information, while simultaneously offering a seamless user experience.

“This is the goal of CyberloQ as we collaborate with TPML and its network of programme managers, processors, and ultimately the clients of each custom card programme.”

According to Juniper Research, e-commerce merchants are expected to lose $25bn to online payment fraud by 2024.

TPML CEO Aaron Carpenter said: “CyberloQ’s patented approach to data security help clients control of their data with little to no risk for fraudulent exploitation.

“Having a mobile app that puts the consumer in control, while simultaneously protecting our brand partners from fraud, is a huge benefit for consumers, merchants and e-commerce as a whole.”

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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