Kount Blog
Blog Against Fraud

A Clever Way to Improve Mobile Commerce Conversions for Electronics Retailers

Posted on Tuesday, February 21, 2017

Retail eCommerce spending via smartphones and tablets boomed in Q4 of 2016, up 45% over 2015. In fact, mobile accounted for 21 percent of total digital commerce dollars spent in the quarter, mobile’s highest recorded share of online sales ever.

And guess what? Mobile fraud is keeping pace. In 2015, the number of fraudulent transactions on mobile devices increased by 142% compared to 2014. And there’s no slowdown in sight, with CNP fraud losses projected to soar 80% by 2020.

For online Electronics retailers, this presents a dilemma. Customers and their money are obviously pouring in via the mobile channel, and you want to capture those orders. Yet with mobile fraud also soaring, you also risk higher fraud losses.

This is where the clever part comes in. There are fraud prevention solutions out there that actually help improve mobile conversion rates (while reducing fraud)! How is this possible?

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Topics: mobile commerce, mobile device, electronics retailers

The Bachelor: Kount Tells All - Round 2

Posted on Monday, February 20, 2017

By: Don Bush, VP of Marketing at Kount

While some may be hesitant to admit it, I am, in fact, a (semi-willing) member of Bachelor Nation. Last year, you may recall that I wrote a piece likening the bachelor to a fraudster.

Because we are equal opportunists here at Kount—it is the contestants’ turn to get the fraud treatment. While Nick Viall is no saint on this journey, the ladies’ actions are too similar to fraudsters attempting to trick online merchants for me to believe that happily ever after is in the cards for poor Nick.

As we head into hometown dates, here is our second Bachelor Fraudster Tell All—ladies edition!

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Topics: fraudster, merchant, the bachelor

PSPs: 5 Best Practices for Enterprise-Class Fraud Prevention

Posted on Thursday, February 16, 2017

Payment Service Providers (PSPs) like BlueSnap, Braintree, Chase Paymentech, GoECart, Magento, and X-Cart are offering portfolio-level fraud prevention as a baseline service to their merchants. This type of value-added offering is helping these issuers, acquirers, payment processors, payment gateways, eCommerce platforms, etc.:

  • Win new accounts and reduce churn
  • Minimize the financial and regulatory risks of onboarding and underwriting merchants

If you are a PSP exploring platform-wide fraud prevention as a strategy for overcoming the Top 7 Challenges Payment Service Providers Are Facing, it’s critical that you understand the best practices for enterprise-class fraud prevention in order to achieve maximum ROI:

  1. Sophisticated Screening and Analytics
  2. Real-Time Fraud and Risk Data
  3. Advanced AI and Machine Learning
  4. Expert Human Intelligence
  5. Portfolio Underwriting
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Topics: fraud prevention, payment service providers

Top 7 Challenges Payment Service Providers Are Facing

Posted on Tuesday, February 14, 2017

Payment Service Providers (PSPs) are facing unprecedented competitive
challenges. With thousands of PSPs already in the marketplace and hundreds of new entrants adding to the competitive pressure each year – it’s becoming more and more difficult to: 

  • Win new merchant business and retain existing accounts
  • Protect against the financial and regulatory risks of onboarding and underwriting merchants
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Topics: payment service providers, regulatory risks

Electronics Retailers: Build Your Own vs. Fraud Detection as a Service

Posted on Wednesday, February 8, 2017

If you’re an eCommerce retailer that sells Electronics, these facts are why you need a robust anti-fraud system:

At the same time, online Electronics retailers have indicated strong concerns with the growing cost and complexity of fraud prevention. And the problem isn’t just for large eCommerce operations. Fraudsters are making the strategic decision to move “down the food chain” and target smaller retailers as their tools of the fraud trade have given them automation options. In the past 36 months, retailers have taken steps to dramatically increase their fraud mitigation efforts, but that can have substantial costs as well.

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Topics: cnp fraud, fraud detection as a service, electronics retailers

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