Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347% and 391%, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Twenty-two percent of Americans have reported being...
Geolocation data and adjacent technologies are helping to customize and personalize shopping, banking and more, as consumers acclimatize to a commercial world that increasingly concerns itself with where you are in the moment, powering next-gen connected commerce experiences. The November 2020 PYMNTS report Location, Location,...
Smartphones have become a ubiquitous part of life for consumers around the globe. They use their mobile devices for everything from checking the weather to posting on social media to pulling up real-time maps and using them to navigate to new destinations. Many of these...
It used to be an uncommon occurrence with a funny name, a misdemeanor of the digital-first era — but porch pirates aren’t so funny anymore. That little trend is now a serious matter, with one in five Americans losing a package to theft since the...
The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Fraudsters utilizing these schemes rely on tactics such as phishing and impersonation scams to trick customers and businesses into sending payments or payment details, and their use...
Fraudsters are preying on consumers’ anxieties by turning to authorized push payment (APP) fraud for COVID-19-related schemes. Deploying multiple fraud prevention tactics is therefore a must if banks hope to spot complex scams and outfox bad actors, says Megan Kakani, vice president of product and...
Digital fraud is a widespread problem, with fraud losses totaling more than $1.45 trillion annually around the globe. A fraud attack against a bank or business occurred every two minutes on average in 2019, for a total of 59,627 attacks that year. What’s more, these figures...
Card declines, disputes and chargebacks are sprouting like weeds in a commerce environment dominated by card-not-present (CNP) transactions that are more prone to fraud. Each rejected charge is harmful in its own way, so companies are partnering to get ahead of the problem. The October...
There’s no soft version, no smoothing it over. Companies charged with protecting people’s data lost ground in 2020, after an abysmal 2019 of breathtaking data breaches. Yes, the pandemic explains a great deal of the new action. Preparedness (or lack thereof) explains the rest. “This...
