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Visa strengthens payment security as scammers get more sophisticated

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Visa credit and debit cards are seen in this picture illustration taken August 2, 2022. REUTERS/Benoit Tessier/File Photo

Visa has also hired 1,000 cyber-security experts over the last five years with the latest tools and technology to prevent cybercrime.

PHOTO: REUTERS

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SINGAPORE – Payment companies are stepping up their security standards and employing the latest technology and analytics to fend off online scammers who continue to crunch consumers and businesses worldwide.

The issue has expanded greatly since the pandemic ignited the adoption of e-commerce.

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