June 28, 2017
Boise, Idaho – June 29, 2017 – Kount Inc. today announced findings from the fifth annual 2017 Mobile Payments & Fraud Survey to understand and measure the state of mobile payments and mobile channel fraud. The report found that while merchants have made a lot of progress when it comes to mobile security, they have a long way to go in order to minimize fraud risk, with 28% of merchants still not able to identify whether a mobile transaction came from abroad.
Despite consistent gains in mobile adoption, merchants are showing that they are becoming more complacent about managing risk in the mobile channel. Only a small fraction of merchants (8%) today believe that the mobile channel is far riskier than traditional e-commerce, surprisingly down from 14% last year. Merchants also remain fairly trusting of mobile wallets, with more merchants believing that fraud will decrease rather than increase as consumers more widely adopt mobile wallets (37% vs. 29%, respectively).
While strides have been made in identifying the device origin of a mobile transaction – five years ago, more than 55% of merchants were no ...