The word “fraud” is a deceptively simple term covering a growing variety of sophisticated crimes, including identity fraud, account takeovers (ATOs) and so-called friendly fraud. The pandemic-driven shift to digital channels gave rise to a sizable increase in fraud beginning in 2020, and this trend...
The pandemic’s social and digital disruption has exposed organizations to increased risks of becoming victims of cybercrime. Many businesses had to transition employees to working from home quickly, and this trend may become a long-term reality for a significant share of the workforce. Before the...
The growth in buy now, pay later’s (BNPL) popularity has made fraud prevention an increasingly important subject for both providers and the merchants that offer it. Twenty-five percent of U.S. merchants already accept BNPL payments, and 46% expect to implement it as an option within...
Letting advanced algorithms to take the lead on security can keep fraud from derailing the BNPL experience. In the Digital Fraud Tracker, Sezzle CEO Charlie Youakim explains how BNPL providers can use artificial intelligence and machine learning to keep their platforms airtight without holding legitimate...
In a world where consumers expect everything on demand, the popularity of buy now, pay later (BNPL) has surged for its instant spending power. In fact, BNPL is expected to account for 4.5% of all eCommerce payments in the United States by 2024. Fraudsters naturally...
In the fall of 2021, PYMNTS, working with the Mastercard affiliate Brighertion, interviewed dozens of banking executives to determine how acquiring banks use artificial intelligence (AI) and effective merchant monitoring to combat credit, debit and prepaid card fraud. Here’s what our research turned up. 1)...
The pandemic transformed how holiday shoppers secured items in 2020, and researchers expect these trends to continue during this year’s holiday season. PYMNTS’ findings show that 87% of United States consumers plan to do at least some of their holiday shopping online, 13% more than...
Restrictions and health concerns during the pandemic helped consumers discover the many conveniences of digital transactions, but the upsurge in online profiles also led to an increase in fraud. The threat of cybercriminal activity grew worldwide, and 47% of companies reported experiencing the impact of...
In a recent study, more than 80% of Americans reported going online every day to conduct routine activities, such as grocery shopping and bill payments or to visit social media sites, and 28% said they do so constantly. With greater internet usage, consumers are becoming...
