Online Payments Fraud, Challenges and solutions

E-commerce offers many competitive advantages such as improved productivity, reduced costs, streamlined business processes, improved customer service and global presence. According to a report by emarketer, global ecommerce sales are expected to reach $1.2 Tn by end of 2013. But with the growth in online commerce or e-commerce, the credit card security and online payments fraud remain the biggest issues today.

Cybersource Corp., a unit of Visa reports that lost revenue due to online fraud reached an estimated $3.5 billion in 2012. This study was based on profiling 312 online retail companies based in the United States and Canada. Globally according to a study by Nielson, the loss due to online fraud was estimated at ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.