Fraud solution providers need to be prepared to competitively position and message against the new Amazon Fraud Detector risk modeling services. Here’s what risk vendors and sales professionals need to know about Amazon’s new risk management service offering and how to prepare for prospects or current clients considering this new service. Read More
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Keeping Up with the New Normal in eCommerce, Fraud and Payments
A common theme throughout 2020 has been the acceleration of digital adoption across both businesses and consumers. We take a look at the lingering impacts on payments and risk across multiple studies and reports comparing consumer and fraudster activity between 2019 and 2020. Read More
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Processors Prepare for Increasing Merchant Chargeback Losses and Look to Increase Reserves
A FinTech lawyer reported that as many as one-fifth of his merchant clients have been contacted by their payment processors about the possibility of increasing their reserve requirements. This comes as Square increased provisions for merchant transaction losses to $79.3 million in the first quarter, a three-fold increase from the same quarter last year. The
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Who Is Looking Out For eCommerce Merchants?
Guest Post Written by: Daryn Griggs, Co-Founder, Payshield, Certified eCommerce Fraud Professional The events of COVID 19 have seen a massive increase in online shopping around the world including people who have never shopped online before. Naturally with an increase in online shopping comes an increase in online fraud, and the biggest fraud increase? Friendly Fraud!
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Welcome to News & Events
Welcome to The Fraud Practice’s FraudBlog; your source for updates on current events, commentary and best practices related to the eCommerce CNP payments and fraud industry. Be sure to signup to see all of our content to include our free monthly FraudBlog Newsletter.
Cyber Weekend Fraud Declines See 30% Increase Year-Over-Year and 50% Increase Relative to Rest of Year
The number of order attempts declined for suspected fraud increased by nearly 30 percent year-over-year for orders between Thanksgiving and Cyber Monday, according to data from iovation, that also found a fraud decline rate 50 percent higher than the yearly average (15 percent vs. 10 percent). Likewise, a cyber security firm found a 63 percent
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Online Order Returns Spike Post Holidays
Private courier UPS has declared January 2nd National Returns Day, the busiest package return day of the year, and prepared to handle nearly 2 million packages representing returned gifts on this day alone. We take a look at online order return rates and volume while discussing the costs, and even benefits, of reverse logistics operations
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Winners and Losers in the Largest US Online Holiday Shopping Season Yet
Mobile and eCommerce shopping hit new highs this holiday season as Cyber Monday yet again beat its own record as the largest online shopping day in the U.S. with over $9.4 billion in eCommerce retail sales. This followed a record day for Black Friday which reached $7.4 billion in online sales while U.S. eCommerce volume
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JP Morgan to Discontinue Chase Pay for Mobile Contactless Payments
Unable to catch up to Apple, Samsung or Google Play, Chase Pay was used by less than 10 percent of Chase cardholders in the last 90 days, and the mobile app will be discontinued in early 2020. Chase Pay launched in November 2016 and although being discontinued most of its features have been adopted elsewhere.
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Cyber Monday and Black Friday Reach Record Highs Totaling More Than $14 Billion in Online Sales
Cyber Monday 2018 was the largest online shopping day recorded in the U.S. with $7.9 billion in sales volume, according to Adobe Analytics. Online sales on Black Friday grew 24 percent from 2017 to $6.2 billion this year as mobile shopping and pick-up in-store saw the largest growth. While Cyber Monday online spending increased about
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