One of the most allure aspects of ecommerce is the ability to sell to a whole planet of customers. A borderless storefront should mean limitless growth, right? Unfortunately, the allure of growth into international markets is commonly stymied by the fear of increased fraud risk. Here is why putting an entire country on an ecommerce blacklist isn’t the right move.
It’s been two years since the EMV liability shift put merchants on the hook for any losses to online fraud. New data from Javelin Strategy & Research and Vesta Corp. suggests ecommerce fraud headaches for American retailers will be far worse than anything their foreign counterparts could have imagined.
Advances in technology enable us to do amazing things, among them the ability to buy almost anything you want online. With the rise of online shopping, we’ve seen an astronomical increase of personal data available online, and as a result there are now more fraudsters and thieves making careers out of stealing others’ data than ever. With small businesses, a breach could be catastrophic. Here is how small to medium-sized businesses can protect themselves from security breaches.
Fraud prevention provider Forter’s 2017 Fraud Attack Index, done in conjunction with the Merchant Risk Council (MRC), details the rate at which ecommerce fraud attacks increased in traditional retail verticals. The study found there was a 79% increase in ecommerce fraud for domestic holiday orders. See what else the study found.