U.S. Merchants Striking Back Against Card-Not-Present Fraud in Online Transactions
Boston, MA (PRWEB) November 17, 2016 -- Mercator Advisory Group’s most recent research report,Card-Not-Present Fraud: The Merchant Empire Strikes Back, examines the current state of CNP fraud in the U.S. market and frames the market landscape for both online merchants and the fraud solution vendors that serve them.
E-commerce merchants in the United States now find themselves in a perfect storm of rapid online sales growth and the continuing EMV chip card transition. The convergence of these two trends has left merchants vulnerable to card-not-present (CNP) fraud. Cyberthieves are proving quite adept at using both technology and stolen payment card data to attain their ill-gotten gains. The well-documented breaches of payment card data at major retailers such as Target and Home Depot in the past few years have provided a treasure trove of millions of cardholder records that are being used by criminals to commit CNP fraud.
Despite anticipating that fraudsters would transition to online attacks once counterfeit card fraud at the point of sale was reduced through the EMV chip, U.S. payment card networks and issuers, payment providers, merchants, and cardholders are now asking: What can we do about the increase in CNP fraud? In response, an industry of technology developers providing solutions to combat CNP fraud has emerged to give online merchants the means to strike back. This Mercator Advisory Group research report delves into the current state of CNP fraud and where e-commerce merchants should go from here.
“Not unexpectedly, U.S. e-commerce merchants are caught in the crosshairs of CNP fraudsters who have shifted their attention away from point-of-sale transactions. Fortunately, several new fintechs as well as established technology companies have developed security solutions that show early promise in greatly reducing CNP fraud,” comments Raymond Pucci, Associate Director of Research Services at Mercator Advisory Group, author of the report.
Highlights of this research report include:
• An overview of the current state of the U.S. CNP fraud landscape
• Layers of anti-fraud measures available to merchants
• Technology-driven methodologies used to counter CNP fraud
• Profiles of many notable CNP fraud vendors
• Recommendations for merchants to self-assess their risk exposure to online fraud
• Considerations for merchants in CNP fraud management and vendor assessment
This research report contains 23 pages and 8 exhibits.
Companies mentioned in this report include: Android Pay, Apple Pay, CyberSource, Ethoca, FICO, Forter, IdentityMind Global, IDology, Iovation, Kount, LexisNexis Risk Solutions, Mastercard, NoFraud, NuData Security, Riskified, Samsung Pay, Sift Science, Simility, ThreatMetrix, Vesta, Visa, Whitepages Pro
Members of Mercator Advisory Group’s Credit Advisory Service and Debit Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.
Karen Yetter, Mercator Advisory Group, http://www.mercatoradvisorygroup.com, +1 (781) 419-1703, [email protected]
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