ACI data shows fraud increase during holiday season

Monday 21 January 2019 09:38 CET | News

According to merchant data released by ACI, fraudsters have taken advantage of retailers that offered buy online, pick up in store (BOPIS) during the holiday season.

During the 2018 holiday shopping period, attackers used stolen credit card data to make online purchases that they then picked up in stores. As such, ACI Worldwide, a global provider of real-time electronic payment and banking solutions, revealed a 13% increase in fraud attempts in the BOPIS channel.

Based on hundreds of millions of merchant transactions, BOPIS also saw consumer transactions peak at 20% right before Christmas, due to the fact that shoppers bought last-minute gifts before the holiday. Also, findings from the ACI data include:

  • Overall volume of purchases increased by 16%, while overall value increased 9% compared to the same period in 2017

  • BOPIS transactions increased 20%, peaking the weekend prior to Christmas

  • Fraud attempts on BOPIS increased 13%

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Keywords: ACI, fraud, merchants, retailers, BOPIS, online payments, banking, transactions , electronic payments
Countries: World