• Matthew Katz, CEO at Verifi


• 01.07.2016 02:30 pm
undisclosed

Credit cards are – and will remain – the globally preferred payment method for ecommerce transactions thanks to integration into mobile payments. CNP payments are accepted worldwide and can be paid from multiple devices, presenting myriad challenges to mitigate CNP fraud. 

We should expect to see cross border selling continue to expand across the UK & Europe as merchants focus on emerging markets to sell their goods and services.

According to Aite Group research, CNP fraud is expected to more than double from $2.8 billion to more than $6.3 billion by 2018. In order to counter this criminal assault, the best fraud prevention strategy will be a multifaceted operation that enables a merchant to manage multiple anti-fraud tools in real-time. Each merchant action should be based on analytics provided by fluid data points and back-end feedback loops – including a fraud prevention platform that can identify mobile devices that host the actual transaction.

Look for a few break-out merchants to read the writing on the wall and make greater accommodation for mobile payment and commerce. Mobile will grant merchants greater personal communication channels with consumers. The first to combine a trusted payment platform with ease-of-use will be among 2017’s winners.