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Blog Against Fraud

What’s the Next Big Thing for Payment Service Providers?

Posted on Thursday, March 23, 2017

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.

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Topics: cnp fraud, payment service providers

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

What Does the Apple Pay Announcement Mean for CNP Fraud?

Posted on Tuesday, June 28, 2016

Apple Pay is coming to Mac desktops and laptops, Apple Senior Vice President Craig Federighi announced June 13, 2016 at Apple’s Worldwide Developers Conference.

Shoppers using a desktop or laptop Mac will see an Apple Pay on-screen button option appear in their Safari browser when checking out at participating online retailer websites, details include:

  • Available prior to 2016 holiday shopping season as part of the update to MacOS Sierra from OS X
  • Desktop and laptop purchases will still be authenticated by the buyer's fingerprint sensor on their iPhone, iPad or Apple Watch at the time of purchase
  • Desktop and laptop purchases have to be made using Apple’s Safari browser (approximately 13% share of browser market)
  • Credit and debit card numbers will not be shared with the online merchant and actual card numbers are not stored on shopper’s device or on Apple servers
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Topics: Apple Pay, cnp fraud, eCommerce

Summer Solstice Reading: 17 CNP Fraud, Mobile, and eCommerce Facts That May Surprise You

Posted on Monday, June 20, 2016

June 21st is the longest day of the year, which gives you extra time to browse these interesting, surprising, or thought-provoking data points about CNP fraud, mobile commerce, and eCommerce.

  1. What is the biggest perceived barrier to improving fraud prevention for eCommerce merchants in the apparel & accessory, automotive, food & beverage, electronics, and travel & leisure market segments? The time and cost to integrate or maintain new technology.
  2. The high-cost of DIY technology (or why the cloud is winning): a large retailer started a $1.4 billion effort to modernize its IT systems, but the project had to be abandoned. Falling behind its competitors, the company then initiated a $600 million system for supply-chain management. That effort also failed and the retailer was actually forced to file for bankruptcy.
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Topics: Apple Pay, cnp fraud, eCommerce

Infographic: Calculating the 9 Deadly Costs of Fraud

Posted on Thursday, March 31, 2016

Do you know the 9 Deadly Costs of Fraud? This infographic quantifies them, including costs that are apparent, as well as the ones that are less obvious and can escape the notice of even the most careful observers. And while some fraud costs are not as significant as others, taken together they can punch a sizable hole in your bottom line… potentially millions of dollars (!) for large eCommerce merchants.

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Topics: mobile commerce, cnp fraud, cost of fraud

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