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Why payment fraud affects online stores more than you realise

Hackers may also resort to malicious redirection to fake sites, reports Tech in Asia

Annie Teh | Tech in Asia 

Payment fraud is a major vulnerability for e-commerce platforms. While it’s easy to physically deal with a dodgy customer, it’s hard to keep bad customers at bay when they’re hiding behind a screen. A report by analytics firm Payments states that 8.6 percent of sales globally were affected by fraud. That suggests that retailers in Q2 2016 could expect to lose $8 for every $100 to fraud, four times the value from 2015. The anatomy of payment fraud Fraud comes in many forms. As payment methods have evolved in the last decade, so have fraudsters’ ...

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First Published: Mon, February 13 2017. 14:57 IST
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