Report: 73% of Consumers Want Control Over How to Prove Their Identity

The rise of digital-first financial processes has brought convenience and speed to the forefront of payments. But the wheels of progress have moved faster than security measures, making identity theft and related crimes a major issue.

A recent report found that 80% of cybersecurity leaders around the world consider ransomware and similar attacks to be among the most critical threats to public safety. Phishing, account takeover (ATO) attempts and other scams are escalating as alternative payment methods like buy now, pay later (BNPL) and digital currency like bitcoin become more mainstream.

In the latest¬†Alternative Payments Tracker¬ģ, PYMNTS takes a deep dive into the growing concerns that have come into play as the digital financial space continues expanding. Data methods are also analyzed as well as the best practices underway and being considered in the cybersecurity space.