According to the survey, 62% of merchants are facing different new types of fraud, as opposed to 2020 and 2021, with online payment fraud continuing to be the biggest threat of businesses.
Friendly fraud was on the rise of around half of the merchants, with digital goods and marketplaces being the most affected. The report showed that the same merchants are the most at risk for account takeovers (ATO).
With new and old types of digital fraud continuously on the rise since the beginning of the pandemic, back in 2020, Ravelin suggests companies to invest more in fraud prevention and detection technologies without creating additional friction for customers and reduce checkout conversion rates.
For those who want to learn more about the fraud detection solutions provided by Ravelin, you can check the company’s profile on our company database.
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