Digital commerce is changing and growing rapidly, and fraud is changing and growing right along with it. Organizations need their fraud solutions to evolve along with their commerce operations and strategies.
From marketing, to merchandizing, to transaction, to post-transaction, data fuels today’s ecommerce landscape. Powered by the ubiquity of connected devices, data has the potential to inform every decision a merchant makes at every stage of the customer journey. This creates an opportunity for merchants to deliver great, personalized commerce experiences to their customers.
All this data also creates an opportunity for fraud. Whether compromised identity data, breached financial data, social engineering-derived information, or even malware, fraudsters have access to their own large data sets and unprecedented access to sophisticated tools and forums.
Fighting fraud is likely one of your organization’s greatest priorities. It may be essential to work with a partner that can help you outmanoeuvre the fraudsters and leverage the insights of a vast intelligence network. This means abandoning traditional, ineffective fraud and risk solutions, and embracing new solutions designed to stay one step ahead of fraudsters.
Traditional fraud and risk solutions are becoming less and less effective. Fraudsters are becoming ever more sophisticated as the digital commerce economy continues to rapidly grow in size and complexity.
Online merchants face a long-standing challenge: delivering frictionless digital commerce experiences and simplifying fraud risk, while striking a balance between trust and simplicity.
As this environment becomes more complex, merchants must adopt new, data-driven ecommerce risk management strategies to prevent fraud while continuing to create a positive customer experience and grow the business.
Unfortunately, the massive growth in ecommerce has also led to rapid growth in fraud, in terms of volume and sophistication. As merchants scale their businesses and expand their ecommerce footprint, they must address unique ecommerce risk management challenges head-on and at all stages of business growth.
Fraudsters have adapted to today’s digital economy, increasing the potential risk involved in selling online. Merchants must also become smarter by adopting an adaptive risk management system that works alongside their digital commerce and payments infrastructure.
Major trends that will shape the fraud management, digital payments, and ecommerce market over the next 36 months include the following:
A robust fraud solution provides online merchants with the following key benefits:
When properly implemented, a comprehensive fraud management solution will enable merchants to focus on what really matters: growing their business.
PayPal’s risk solutions are the only offerings in the industry to leverage PayPal’s extensive two-sided network, combined with industry-recognized machine learning and analytics. With the PayPal Commerce Platform, can help you detect and block fraud in real time.
Discover how your organization can fight fraud and grow with ecommerce risk management. Download our guide to driving digital transformation to find out more.
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