The good news is that e-commerce has grown between 15% - 25% every year over the past 10 years. The strong growth trend in e-commerce is expected to continue for the next five years, with the potential of reaching US$1 trillion sales by 2011.
The bad news is that payment fraud has become a major threat for the e-commerce industry with the ability to impact its booming global growth significantly. In most cases, online fraud is not only increasing in numbers but also becoming more complex to address.
This white paper describes the key trends in e-commerce and related fraud as well as the complexity of different types of fraud across some key countries and verticals. It also provides an overview of best practices, including a real life case study by Levi’s.
Fraud will not disappear, nor will you ever bring it down to zero. The solution is to manage fraud by deploying the appropriate range of tools and leveraging a skilled fraud prevention team. This white paper gives you an in-depth analysis of the current fraud landscape; it also illustrates how an experienced payment service provider like GlobalCollect can help you as a merchant to enjoy the financial benefits of selling online by implementing a customized fraud prevention strategy for your business model.