This new edition aims to look at the current state of affairs amid the COVID-19 pandemic, while depicting insights into fraud detection and risk management; methods to leverage artificial intelligence and machine learning; and the impact of PSD2’s SCA.
The report paints a must-read picture of how the pandemic situation has been challenging for many players operating in the payments space. We see a shift towards more and more transactions conducted on digital channels, and businesses need to accommodate to the new normal and facilitate frictionless journeys to their customers, while staying compliant with the upcoming regulations. However, the more transactions, the more online fraudulent acts. Account takeover, no-transaction fraud, merchant fraud, marketplace losses, or chargebacks continue to be some ways fraudsters use to defraud honest businesses.
The editorials in this report provide our readers with insights on how to stay up to date with the latest fraud trends, and also on how to discover the best practices, strategies, and innovative tools to combat bad actors. Notions like AI-based intelligence verification and authentication, automation, explainable machine learning, or the fraud proof of concept are just few aspects debated by our collaborators.
To portrait the current hot topics, we have asked thought leaders and experts to offer their opinions regarding the following aspects:
How COVID-19 has influenced the ecommerce ecosystem and the fraud space alike – This unprecedented situation has created panic and chaos in the industry. Everyone must stay informed regarding the impacts on both businesses and consumers – Entersekt, EPA, The Fraud Practice;
What fraud challenges merchants face and how can trust be maintained in online payments – In order to stay relevant for their customers, merchants must firstly understand the risks they are exposed to and be constantly alert for fraudulent attacks – ACI Worldwide, About-Fraud, Arkose Labs, Breach Clarity, Dunkin’ Brands, Ecommerce Foundation – Scamadviser, Mango, Marketplace Risk, React, SecuredTouch, Wave Financial;
How to create new fraud strategies and technologies to combat fraudsters, while keeping good customers and blocking bad actors – As fraud has become more sophisticated, are the current tools used to their maximum or should companies reconsider their fraud prevention processes? – Cybersource, Fraugster, Insparx, Kount, Sift, Simility, a PayPal Service, STRATGranat, Summit Partners;
How PSD2’s SCA will influence the space and what the future of fraud will be – With the upcoming SCA deadline, the question is: will businesses face more opportunities, obligations, or obstacles? – MK2 Consulting, MRC, Netcetera, Nok Nok, Signifyd, Wargaming.
What’s more, the report features an industry mapping of the key players in the fraud detection, identity verification, and online authentication area, and it also reveals their backgrounds, core services, unique selling points, and business partners via in-depth profiles. This overview of the fraud solution providers aims to help merchants, fintechs, and payment service providers grasp the current market opportunities.
The Fraud Prevention in Ecommerce Report 2020/2021 is endorsed by Merchant Risk Council, Marketplace Risk, and The Fraud Practice.
Download your complimentary copy HERE.
About The Paypers
The Paypers is the Netherlands-based leading independent source of news and intelligence for professionals in the global payment community. Our products are aimed at merchants, payment services providers, processors, financial institutions, start-ups, technology vendors, and payment professionals and have a special focus on all major trends and developments in payments-related industries including online and mobile payments, online/mobile banking, cards, cross-border ecommerce, e-invoicing and SEPA. We are also keen on keeping our readership informed with regards to online fraud prevention innovations and the most significant trends in the e-identity space.
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