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Increase in Mobile Fraud Outpaces Mobile Transaction Growth

According to a recent study from LexisNexis mobile commerce represents 14 percent of all transactions, but 21 percent of fraudulent transactions are attributed to the mobile channel. Meanwhile the value of fraud losses for mobile channel merchants quickly grew from 0.8 percent of revenue in 2013 to 1.36 percent of revenue in 2014.

According to estimates from Forrester Research, mobile payments will account for $67 billion in U.S. transactions in 2015, up from $52 billion in 2014 and $32 billion in 2013. While mobile transaction volume grew by nearly 63 percent from 2013 to 2014, the value of fraud losses for mobile channel merchants increased by 70 percent, from 80 cents to $1.36 per $100 in revenue, during this same time frame.

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