The Problem of Unauthorized Transactions of Using Bank Cards as a Payment Instrument

DOI

10.2991/assehr.k.201212.017How to use a DOI?

Keywords

bank card, payment card, unauthorized transaction, payment card transaction

Abstract

The bank card market continues to develop and the capacity of this segment of banking services has not yet been exhausted in Russia. The development of the payment card market is facilitated by several factors, such as a development of technologies used to ensure transactions with cards and a change of bank clients’ generations. The most part of Generation Y (Millennials) and Generation Z has more confidence in card payments than previous generations. However, the technology development, the customers’ activity and, sometimes, the awareness lack of cardholders about the protecting possibilities of banking data let fraudsters steal money from the accounts of bank customers. The relevance of the article topic is due to the fact that there is no significant reduction in transactions made with bank cards without the consent of clients of financial institutions despite the constant development of technologies, including in the field of cashless payments. An increase in the payment cards numbers, the number of payment cards transactions and the volume of payment cards transactions themselves shows the adoption of measures to prevent unauthorized access to these payment instruments. The article analyzes the dynamics of transactions with bank cards in their relationship with unauthorized transactions. As a result of the study, it is proposed to develop and implement software to identify and prevent unauthorized transactions with payment cards. Also, the authors consider it is necessary to develop a legislation to stimulate banks to develop payment card protection software, and to toughen punishment for the considered unauthorized write-offs of clients’ money.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ksenia Yu. Proskurnova
AU  - Alla Yu. Tarasova
AU  - Sergey A. Sirotkin
AU  - Maria O. Ermolenko
AU  - Vitaliy A. Neklyudov
AU  - Vadim A. Bykov
PY  - 2020
DA  - 2020/12/15
TI  - The Problem of Unauthorized Transactions of Using Bank Cards as a Payment Instrument
BT  - Proceedings of the International Conference Digital Age: Traditions, Modernity and Innovations (ICDATMI 2020)
PB  - Atlantis Press
SP  - 74
EP  - 78
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.201212.017
DO  - 10.2991/assehr.k.201212.017
ID  - Proskurnova2020
ER  -