The gulf between industry policy and the practical realities of the market creates vulnerabilities and opens the door for new threats like friendly fraud and cyber shoplifting. Visa and Mastercard are stepping up to take this challenge seriously. But is it enough? What’s really needed is a consistent process across card brands.
Fraud is nothing new to the ecommerce space. However, it gets costlier and more common every year. A recent study from Juniper Research suggests retailers will lose $130 billion over the next five years due to card-not-present fraud.
With an annual $7.6 trillion in economic activity, consumers over 50 are the real power players in the U.S. economy. But, can you really attract older shoppers to a dynamic, fast-changing ecommerce market? Of course you can. All you need is the right approach to reach them. Here’s how more marketing focus on the 50+ crowd can pay off.
Ecommerce fraud attacks are still on the rise despite increasingly common antifraud technologies like geolocation, address verification and even biometric technology. Find out what Visa Claims Resolution is and what it means for your business.
Social media is an invaluable tool for ecommerce. Shoppers turn to social media for both its common knowledge and advice before making a purchase. Here are what some of the masterminds behind some of today’s most popular social media platforms plan to make the ecommerce experience part of their platforms.
PayPal and Visa have entered a strategic partnership and recently outlined a number of anticipated benefits from the collaboration. While industry observers suggest the move will expand PayPal’s acceptance at point-of-sale locations and drive more Visa transactions across PayPal’s digital payments platform, the ensuing analysis has primarily focused on the key implications for the payments industry and how the partnership is likely to impact consumers and merchants.
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.
The merchants who will be most affected by the country-wide switch to EMV cards will be card-not-present merchants. Here’s why.
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.
Fraud is one of the most common reasons cardholders file a chargeback. But within the category of fraud is a concept quite troubling – friendly fraud. Referred to as chargeback fraud or cyber shoplifting, this type of chargeback is difficult to detect and prevent.