As consumers have begun holiday shopping earlier than ever, merchants are expecting historical peak trends, and fraudsters will try to take advantage of this. To prepare for the uptick in BOPIS fraud this holiday season, consider enacting both short-term and long-term fraud mitigation strategies to protect yourself and your customers.
The holiday shopping season is practically upon us, which means savvy consumers are getting ready for the best sales of the year. Unfortunately, they’re not the only ones preparing to take advantage of the season. Learn about the serious threats posed by bad actors like Magecart groups, and what steps you can take now to be protected.
To combat online fraud post-EMV, the Electronic Funds Transfer Association (EFTA) is calling for more stringent user authentication and urging industry stakeholders to push for wider adoption. See what else the EFTA found in terms of fraud and chargeback frequency, and what the industry is doing in response.
Looking toward 2017, card not present fraud will likely continue to be a concern among merchants of all sizes. Take a closer look at card not present fraud along with five ways retailers can combat it.
Large multichannel, ecommerce and mcommerce merchants experience between 707 and 880 fraud attempts each month, and upwards of 60% of those attempts succeed. Here’s why merchants need to effectively dispute unjustified chargebacks, but also assess and change practices that may be contributing to errors or approval of unauthorized transactions.
Vantiv and Cerdorax announced a partnership that bolsters the capabilities of Vantiv’s merchants to serve global consumers via card-not-present channels. Read why this relationship will allow Vantiv merchants to process and settle card payments in the local currencies of 34 countries.
A new study from Javelin suggests that while card-not-present fraud is expected to rise post-EMV in the U.S., outsourcing may help address the issue.
The parallel rise of fraud and spending doesn’t seem to add up upon first glance. As fraud increases throughout mobile and electronic commerce, some would think that spending throughout these channels would begin to decline. However, this is not the case.
Retailers need be prepared for fast fraud, which exploits weaknesses in ecommerce fraud prevention systems, especially in card not present (CNP) sales.