Originally posted by CardNotPresent.com. New research from the Minneapolis Fed indicates that retailers are more concerned with fraud in their online channels than any other kind of fraud. Across nearly every size business, Fighting Fraud in the E-Commerce Channel: A Merchant Study found that not only was CNP fraud considered their greatest threat, but half… Read more »
Originally posted by ChargebackGurus.com. Chargebacks are a growing concern for modern merchants. And at the rate they’re increasing, it’s no wonder why. From 2016 to 2017, chargebacks jumped 179 percent, costing merchant’s 1.9 percent of their total annual revenue. Add in the potential threat chargebacks pose to your reputation and merchant accounts, and you’ve got… Read more »
Originally posted to BigCommerce by Kaleigh Moore. When it comes to ecommerce, a word that first comes to mind is growth. Ecommerce expert Gary Hoover’s research shows that just in the last 14 years, the growth of ecommerce companies has skyrocketed across the board. And some merchandise lines (like clothing and beauty products in particular)… Read more »
Article written by NoFraud for Entrepreneur. One of the lesser known challenges of running an ecommerce store is preventing fraud chargebacks. When a consumer doesn’t recognize a charge on their credit card statement they will dispute the charge with their credit card company, which will result in a fraud chargeback to the ecommerce store owner…. Read more »
Article posted by Katie Evans for Internet Retailer. U.S. e-commerce is projected to grow nearly 16% in the third quarter, but consumers still have hesitations regarding the safety of shopping online, according to an exclusive Internet Retailer survey of 2,000 U.S. consumers conducted by Bizrate Insights. For example, 40% of consumers said they did not… Read more »
One of NoFraud’s partners, iTristan Media Group, asked our Director of Business Development to talk about the fraud landscape and how that impacts merchants. The recording can be found here.
Contribution from freelance writer Jenny Holt According to the Association of Certified Fraud Examiners, a typical organization loses 5% of revenue every year to fraud. For businesses, online fraud typically manifests itself in the form of credit card fraud, identity theft, mobile phone transaction fraud, international purchasing fraud, phishing scams, and downloaded malware that collects… Read more »
Written by James Melton for Internet Retailer. For roughly $700 per month, the owner of VapeSociety.com and VapeMood.com eliminated chargebacks of up to $5,000 per month. Cesar Campos thought chargebacks for fraudulent credit card purchases of $3,000-$5,000 per month were going to be a regular cost of doing business. Campos, marketing director of Campos Inc…. Read more »
Article originally posted on CPI Financial, written by Isla Macfarlane. A survey conducted by Kaspersky Lab and B2B International suggests that banks and payment organisations are finding it difficult to manage online financial fraud in today’s connected and complex technological landscape. The explosive growth of e-payments, combined with new technological developments and shifting business needs,… Read more »
Today’s Tidbit: “We estimate that in the U.S. alone, the value of false declines is more than 13 times the total amount lost to actual card fraud” Al Pascual, senior vice president, research director and head of fraud and security at Javelin Strategy & Research.