Fraud

Why Retailers Need to Rethink How They're Fighting Mobile Fraud
July 22, 2019 at 12:01 pm

The mobile revolution for retailers has climaxed, as evidenced by the fact that 72 percent of consumers make purchases via their smartphone, according to recent research from iVend Retail. As such, many retailers have smartly upped investments in digital strategy to ensure they can deliver a mobile-optimized experience to consumers. However, what many often (and…

Adjust to an Accelerated Fulfillment Schedule Without Increasing Fraud Exposure
July 19, 2019 at 11:15 am

In any product category or business model, you’re going to be forced to try and keep pace with trendsetters. With online retail, big names like Amazon.com and Walmart tend to be the ones that set customer expectations for service, price, order fulfillment and more. Take shipping, for example. Amazon recently announced it's moving to offer free…

What’s Trending in Online Fraud?
June 25, 2019 at 1:52 pm

Online fraud attacks are on the rise, and the means by which fraudsters are attempting to exploit online merchants are growing increasingly more sophisticated. Businesses across all industries need to have a better understanding of which fraud attack techniques are trending and how to adapt their fraud prevention strategies to better safeguard their bottom line…

Why Manual Review is Key to Retailers’ Defense Against Fraud, Part 2
June 20, 2019 at 10:46 am

Manual fraud review isn’t as old-fashioned as you might think. It reduces false positives and customer churn. It also helps artificial intelligence-driven fraud-screening systems get smarter. Manual review can even work for merchants like digital content providers that need to make real-time order decisions. In part one of this series, I wrote about how manual…

When Bots Attack: How the E-Commerce Industry Has Reached an Inflection Point
June 13, 2019 at 11:51 am

Last year, consumers in the U.S. alone spent more than $517 billion with online merchants, up 15 percent from 2017. In 2018, the blockbuster holiday shopping season saw more than $17.8 billion in online sales in just the five-day period beginning on Thanksgiving, with a record $6.6 billion transacted on Cyber Monday. Black Friday marked the first…

Why Manual Review is Key to Retailers’ Defense Against Fraud, Part 1
June 13, 2019 at 9:18 am

Preventing fraud and chargebacks is a constant challenge for online sellers, especially as card-not-present (CNP) fraud costs keep rising. Fraud-detection technology is evolving fast to keep pace with e-commerce growth and the increasing sophistication of organized fraud attacks. However, one element of online fraud prevention still requires human expertise — manual review of orders flagged…

One of E-Commerce’s Biggest Problems is Hiding in Plain Sight
May 31, 2019 at 10:19 am

Digital marketers obsess over customer experience because they understand it's essential to e-commerce success. However, these carefully crafted customer journeys are increasingly vulnerable to a growing — yet rarely discussed — threat: online journey hijacking. Namogoo's recent comprehensive report on online journey hijacking lays bare the scope of this threat. The report found that approximately 20…

SMB Merchants Are Too Complacent When it Comes to Payment Fraud
May 16, 2019 at 9:33 am

According to the latest figures, e-commerce merchants around the globe are expected to lose more than $130 billion in the next five years due to “card not present” (CNP) fraud. Despite the scale of the problem, it's clear that many merchants in North America are failing to invest in the tools they need to safeguard…

Report: Visa Claims Resolution Program Effective in Reducing Chargebacks, Fraud
May 13, 2019 at 9:56 am

In 2018, Visa introduced its new claims resolution program (VCR) for merchants that process credit card transactions. The new mandates established a new global policy for disputed charges designed to streamline the dispute process, reduce and prevent invalid dispute claims, and speed up resolution of disputes. Since its introduction, the results of VCR haven't been…

Do We Have Enough Data Scientists to Protect Against E-Commerce Fraud?
April 18, 2019 at 12:26 pm

The biggest e-commerce challenge of 2019 may be balancing marketing and sales channel innovation with the need for increasingly sophisticated fraud prevention. This will be especially challenging because fraud protection, like many aspects of business today, requires experience and fluency in working with data, and there's a growing shortage of data scientists across the U.S.…