U.S. ecommerce firms are projected to lose $157 billion due to false declines in 2023.  Read this PYMNTS blog discussing recent research about how fraud continues to be an issue for ecommerce merchants and what they can do to identify the cause of false declines, prevent fraud, and improve the payment experience. 

Retail return fraud is on the rise globally. 🔄 How does this trend impact Mexican e-commerce and what strategies can businesses employ to tackle it? Let's dive into the challenges and solutions. #EcommerceChallenges #ReturnFraud https://lnkd.in/d538J2KC

Sharing a good article by PYMNTS about how eCommerce merchants are responding to the ever increasing sophistication of fraud. A couple of the findings that stood out to me were: “In fact, merchants who engage in greater levels of collaboration with PSPs are more likely to adopt screening mechanisms that identify potential fraud as the cause of failed payments. These partnerships are therefore essential for striking a balance between security and seamless customer experiences.” “Specifically, the report revealed that approximately 70% of merchants show significant interest in cutting-edge solutions to counter friendly and chargeback fraud.” #ecommerce #fearlesscommerce #fraudprevention #customerexperience #partnerships

🛒🌍 The global surge in e-commerce has accelerated its digital transformation, opening new opportunities for merchants and providing consumers instant access to products and services. As a result, new payment methods like digital wallets, BNPL (Buy Now, Pay Later), and cryptocurrencies are gaining rapid popularity. 💳📲 However, this digital shift also increases the risk of fraud. While traditional credit and debit cards still lead in fraud losses (46%), digital payments, including BNPL, are quickly rising, accounting for 37% of fraud losses. With global e-commerce retail sales projected to hit $7.4 trillion by 2026, payment fraud losses will significantly impact merchants. Fraud not only costs merchants three times the value of the lost transaction (including fees, fines, and merchandise costs) but also damages consumer trust, which erodes customer relationships, compromises brand reputation, and ultimately impacts the bottom line.

Nearly one-third (29%) of retail and ecommerce fraud occurs at new account creation, while inflicting 44% of fraud losses. Learn how forward-thinking merchants are working to protect their customers and businesses.

Nearly one-third (29%) of retail and ecommerce fraud occurs at new account creation, while inflicting 44% of fraud losses. Learn how forward-thinking merchants are working to protect their customers and businesses.

Discover key insights from the 2024 Global eCommerce Payments and Fraud Survey! From payment trends to fraud prevention tactics, learn how merchants worldwide are adapting to the evolving e-commerce landscape with tokenization. #Ecommerce #PaymentSecurity https://lnkd.in/gdCAS_ee

Based on our analysis of millions of eCommerce transactions, ACI expects global eCommerce transactions to rise 14% this upcoming holiday shopping season. Among these transaction types, buy now, pay later is expected to triple in volume, while buy online and pick up in stores, e-wallets, credit/debit cards, and mobile payments are expected to remain popular payment types. Payment processors, merchants and financial institutions alike should take notice of changing consumer behavior as consumers receive access to an increasing number of transaction types and begin to show preferences. https://aciw.co/3tC8QeL

Hot off the press is ACI's 2023 holiday spending predictions report, compiled from an analysis of millions of eCommerce transactions. Buy now, pay later transactions are expected to triple, and merchants and processors need to guard against emerging forms of fraud related to these popular transaction types. https://aciw.co/46Nzq3g

Nearly one-third (29%) of retail and ecommerce fraud occurs at new account creation, while inflicting 44% of fraud losses. Learn how forward-thinking merchants are working to protect their customers and businesses.