Travel businesses that operate online face some very unique challenges when it comes to reducing fraud and accepting legitimate orders. What unique fraud challenges do eCommerce operations in the travel industry face? Which travel products are most targeted by online fraudsters? Are certain types of travel industry card-not-present (CNP) transactions more likely to be fraudulent? And are fraudsters going after the big online travel agencies (OTAs) or are smaller online travel businesses more at risk? This infographic gives good insight to those questions and more, including what eCommerce operations in the travel industry can do to fight back against fraud while holding down fraud mitigation costs.Read More
These new trends, technologies and innovations are stirring things up in the payments space:
- B2C and corporate payments
- Blockchain solutions
- Immediate payments
- In-app payments (e.g., Uber)
- Mobile wallet, NFC and other technologies
- Non-banking players entering market
- Security and authentication enhancement
- Social and mobile commerce
- Virtual currencies
- Virtual reality shopping experiences with integrated payments
However, the expense, IT resources, and time required for Payment Service Providers (PSPs) – i.e., issuers, acquirers, payment processor, payment gateways, eCommerce platforms, etc. – to capitalize on these various trends differs greatly. Similarly, the risks and rewards vary widely. Sorting through the possibilities and permutations can be daunting.Read More
Chargebacks are a big deal. They’re a constant source of product loss and costly fees that damage profitability. It’s no wonder eCommerce operations work relentlessly to stop them.
But it’s important to remember that chargebacks are only part of the deal.
Yes, they’re an important component of one of the three ugly heads of fraud. But focusing single-mindedly on fighting chargebacks – or using tools and software that do – may actually cost you money. How? First, a reminder about the three ugly heads of fraud.Read More
St. Patrick’s Day means different things to different people, but the common (commercialized) theme is this: leprechauns and gold.
Around this time of year in elementary schools across the country, a fuss is being made over “catching” leprechauns. Students make traps out of shoeboxes and glue, and on March 17th they will find that they have not caught a leprechaun but instead some gold chocolate coins.
For the older and wiser among us, reading the Kount Blog at this very moment, we know that leprechauns don’t exist. However, we can appreciate the many similarities our verdant little friends have with today’s fraudsters.Read More
Feel like Yahoo’s data breach headlines are everywhere? Not sure if you’re reading about the same breach from a month ago or a different one? Does it seem like another popular children’s toy has been hacked? It’s not just you – what you’re experiencing is probably data breach déjà vu: the same types of data breaches happening not just once, but often several times. Fraudsters are constantly finding new ways to game the system but aren’t afraid to exploit weaknesses repeatedly if they’re offering them solid returns. Here’s a look at some of the recent breaches that have made headlines again (and again).Read More