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.
Retail fraud attempts are projected to increase 14% during Cyber Weekend compared to last year, according to benchmark data from online payment provider ACI Worldwide based on hundreds of millions of merchant transactions. The fraud activity is likely to peak on Thanksgiving Day, according to ACI.
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.
While the changing environment for merchants, including mobile commerce and card not present (CNP) transactions, presents a number of payment fraud challenges, there are 5 that should take priority. Find out which ones you need to address now.
With chip-and-pin card security being instituted in the U.S., experts predict ecommerce fraud will jump. Here are 5 things to help you deal with the issue.
Retailers need be prepared for fast fraud, which exploits weaknesses in ecommerce fraud prevention systems, especially in card not present (CNP) sales.