Ecommerce has become an ingrained part of our lives, as most find it an effortless, convenient alternative to retail shopping, especially considering the times. Unfortunately, bad actors always find ways to mess with the system and conduct all manner of fraud. With that in view, here are 4 proven ways to mitigate ecommerce fraud.
Multichannel companies are at particular risk for fraud. Unlike pure-play ecommerce or physical retailers, omnichannel companies will be exposed to everything from sophisticated computer penetration to shoplifting, and will need strategies to counter them all. Here are five ecommerce fraud trends to watch in 2022.
From account takeover to friendly fraud, phishing, spoofing, counterfeiting, chargebacks and more, there are many ways for fraudsters to disrupt and derail ecommerce. This special report from Multichannel Merchant takes a deep dive into current fraud trends and explores solutions and steps you can take to safeguard against it.
The ease and convenience of gift cards means they can be bought and delivered without ever needing to set foot in a store. However, the convenience, ease of use and flexibility of gift cards is also what makes them popular with digital fraudsters. Despite their earning potential, merchants need to be alert to these risks.
Saying coupon fraud costs the retail industry $100M/year is an oversimplification of the problem. Yes, that is the aggregated face value of mis-redeemed offers, but it doesn’t reflect all of the costs borne by industry players. Here’s a breakdown of how it affects manufacturers, retailers and consumers, and how to mitigate the impact.
One key reason friendly fraud is such a problem is that merchants and banks lack the capacity to distinguish between legitimate and illegitimate dispute claims. AI-based tools sending transaction data would allow for more accurate analysis of industry trends and consumer preferences, freeing up resources and reducing overhead.
As COVID-19 continues to impact the market, we’ve seen a massive shift toward ecommerce. The rise in contactless payment as a result of the coronavirus has been a key trend. Consumers are adopting options like mobile ordering and in-store pickup at an astonishing rate. Learn about best practices to address fraud risks.
It’s near impossible to keep up with the pace of change in ecommerce payment. That’s a problem, because fast-paced innovation inevitably leads to vulnerabilities. Without the right approach, revolutionary profit opportunities could fall victim to advanced ecommerce payment fraud threats. A multilayered, strategy is needed.