Retailers will lose $71bn due to payment fraud

Retailers are facing losses of up to $71 billion globally as the number of fraudulent card-not-present (CNP) transactions rises hugely within the next five years. A new report from Juniper Research has revealed that a number of different factors are driving the increase in fraud, including the US shifting towards EMV cards, delays in 3DS 2.0 and click-and collect fraud methods. The report, entitled Online Payment Fraud: Emerging Threats, Key Vertical Strategies & Market Forecasts 2017-2022, claims many retailers still see cyber-security solutions as too expensive. Juniper Research believes they will be underprepared for frauds when EMV gets introduced in the… [Continue Reading]