8 Simple Credit Card Fraud Fixes Banks Won’t Use

Credit card fraud costs Americans billions every year. Yet major banks and card issuers continue to ignore common-sense solutions that could dramatically reduce fraud—many of which are already available.

From mobile wallets like Apple Pay and Google Wallet to real-time purchase approvals, here are seven ways to prevent credit card fraud that banks could implement today—but choose not to.

Credit Card Fraud Happens Every Year, Yet the Industry Struggles to Solve the Problem

Credit card fraud has been a persistent issue for decades, affecting millions of people worldwide. Despite significant advancements in technology and security, fraud continues to rise. In fact, according to industry reports, credit card fraud happens at least once a year to many consumers, yet little seems to change in the industry to prevent these breaches from occurring.