In 2015, PayPal and eBay agreed that PayPal would handle payments for eBay for the following five yea time, eBay has had to build its payments capabilities up from scratch — and protect payments from fraud.
Protecting a business from existing and emerging fraud attacks can be a huge undertaking. That’s why world-class payment providers, eCommerce platforms, and data providers partner with Kount. Together, we’re protecting transactions, increasing sales volumes, and strengthening businesses with the world’s largest risk and data trust network.
The surge in online sales of electronics is likely to wane slightly this year, after a massive spike last year, according to a recent Mastercard survey. Demand in sectors like online grocery shopping, however, is likely to stay strong.
Some shoppers are back to browsing in-store, but many still count on contactless methods. No matter their preference, consumers will expect these offerings to continue.
With these changes, businesses must balance digital fraud protection measures with customer friction to ensure adequate protection across channels. Kount’s AI-driven fraud prevention, coupled with the Identity Trust Global Network and its highly customizable platform, can help businesses do it.
Less than a year after contactless transaction limits were raised across Europe, Visa reported 1 billion additional touch-free transactions across the continent. This marks a major milestone for consumer confidence in contactless payment methods.
Consumers and merchants are increasingly turning to contactless payments as a more COVID-safe way to shop. 65% of consumers say they would prefer to use contactless payments as much as, or more than, they do currently.
Convenient and easy to use, contactless payments can also be a great way to accelerate eCommerce. Businesses can use contactless payment platforms to build a customer’s identity trust profile, which includes where they shop the business, how often they shop the business, their average transaction size, and their preferred payment method. The more a business can learn, the more it can optimize the customer’s experience.
The coronavirus pandemic accelerated the widespread adoption of eCommerce. With more people shopping online, legacy beverage brands have had to shift to digital marketing strategies. Some of the newest online alcohol merchants offer expedited delivery, which requires very quick approval rates.
Bad actors are attracted to businesses that rushed to get online. They’ll take advantage of expedited shipping options to make high-value purchases with stolen credit cards before cardholders can report the theft. AI and Machine learning can help merchants avoid fraud in the payments process.
Kount’s 5 in 5
Discover the latest news and trends in cybersecurity and fraud prevention in the Kount 5 Trends, 5 Minutes: Cyber & Fraud podcast.
Details included full names, locations, birthdays, email addresses, phone numbers, and relationship statuses.
Bad actors can use personal information to open accounts under fraudulent names and make purchases using stolen credit cards. Businesses can protect against fraudulent transactions using a global network of fraud and trust-related signals.