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The Need to Create a Set of Common Rules for Global Payment to Minimize Fraud and Hacking
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The payment ecosystem was targeted in 2014 by many different types of attacks, including security and data breaches exploited for the purpose of collecting sensitive information. This is a global threat and no countries can argue to be completely safe. A global security initiative and common rules could have a positive impact and help deter fraudsters. This analysis will answer the following questions for a global audience: Why can cloud-based solutions be seen as an alternative? What is the impact to the other payment initiatives? What are the security risks during a transaction process?
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