Payment fraud decapitates business growth—but before a company’s market opportunity even comes to a head, fraudsters hellbent on financial theft can attack vulnerabilities across on-site customer journeys, and across the internet, stealing data and funds, and putting online merchants at risk long before a login, transfer, or transaction even takes place.
Fraudsters have plenty of motive to snatch revenue when the probability of a payout is so high: last year, consumers spent $871 billion online with U.S. merchants alone, up 14.2% year-over-year. Between 2020-2021, average daily transaction volumes across Sift’s global merchant network rose in every industry, with the biggest surge in fintech at 121% growth YoY.
Order volumes shot up by about 24% in marketplaces, and 34% in travel & hospitality, signaling new fluctuations in demand for markets hit hard by the pandemic. And while volumes rose less dramatically in digital goods & services, on-demand, and retail, fraudsters follow growth and spend wherever it shows up—and the pool of potential victims gets larger by the day.
Join our webinar with Sift, where we delve into the complex world of payment fraud, and how to outsmart fraudsters. We will discuss:
- Payment abuse in the Fraud Economy
- Fraud rates and trends by Vertical
- The anatomy of a fraud ring: dissecting abuse tactics and technologies
- Outsmarting payment fraud in the age of automation
MD Europe for Western Europe
Newland Payment Technology
Trust & Safety Architect
Sift
VP of Digital Trust
Sift
