Page 8 - index
P. 8
RESEARCH, ANALYSIS & TRENDS
Mobile fraud growing rapidly
A new study from Juniper Research has found that In a survey of fraud detection solutions, the study,
eCommerce merchants and financial institutions will be ‘Online Payment Fraud: Key Vertical Strategies and
investing heavily in online fraud detection solutions over Management 2016-2020’ found that the leading solu-
the next five years, with annual spending reaching $9.2 tion vendors were now capable of reducing fraud levels
billion by 2020, up by 30% on current levels. down to less than 0.1% of transaction values in some
key eCommerce verticals.
Considering that almost 90% of merchants support ei-
ther a dedicated mobile site, mobile app for online Research identifies Top 3 leading Fraud Detection
shopping, or both, the sharp rise is actually of no sur- and Prevention (FDP) players
prise. Yet, around two-third (62%) of merchants are As part of its research, Juniper conducted a compara-
able to tell whether a transaction is coming from a com-
puter or mobile device. tive assessment of 12 solution vendors and identified
CyberSource, Experian, and FICO as the Top3 players
However, according to Juniper Research, fraudsters in the ‘Fraud Detection and Prevention’ (FDP) space,
now perceive mobile payment channels to be particular- based on a range of criteria such as technological inno-
ly vulnerable and therefore more attractive targets, as vation, fraud detection performance, product range and
many organizations have yet to apply the same levels strength of partnerships.
of protection to mobile as they have to desktop transac-
tions. The study argued that all three companies demonstrat-
ed significantly higher performance than their peers in
Biometric authentication is key to make mobile pay- their data analytics capability and their ability to monitor
fraud across multiple payment channels - including mo-
ment secure
bile - and the use of global threat intelligence networks.
“Digital security companies regard the mitigation of mo- A complimentary whitepaper, ’Managing the Risk of
bile fraud as a key revenue generator in the medium Fraud’, is available to download from the Juniper Re-
term,” claimed report author Gareth Owen. He argued search website together with further details of the full
that this was driving the development and implementa- research.◊
tion of advanced biometric authentication technologies By MediaBUZZ
which the companies claim can make mobile purchases
as secure as any other web-based transactions.
8 Asian eMarketing - June 2016: Mobile Marketing & Advertising: Site development & Apps, Business Strategies & Trends
8
Mobile fraud growing rapidly
A new study from Juniper Research has found that In a survey of fraud detection solutions, the study,
eCommerce merchants and financial institutions will be ‘Online Payment Fraud: Key Vertical Strategies and
investing heavily in online fraud detection solutions over Management 2016-2020’ found that the leading solu-
the next five years, with annual spending reaching $9.2 tion vendors were now capable of reducing fraud levels
billion by 2020, up by 30% on current levels. down to less than 0.1% of transaction values in some
key eCommerce verticals.
Considering that almost 90% of merchants support ei-
ther a dedicated mobile site, mobile app for online Research identifies Top 3 leading Fraud Detection
shopping, or both, the sharp rise is actually of no sur- and Prevention (FDP) players
prise. Yet, around two-third (62%) of merchants are As part of its research, Juniper conducted a compara-
able to tell whether a transaction is coming from a com-
puter or mobile device. tive assessment of 12 solution vendors and identified
CyberSource, Experian, and FICO as the Top3 players
However, according to Juniper Research, fraudsters in the ‘Fraud Detection and Prevention’ (FDP) space,
now perceive mobile payment channels to be particular- based on a range of criteria such as technological inno-
ly vulnerable and therefore more attractive targets, as vation, fraud detection performance, product range and
many organizations have yet to apply the same levels strength of partnerships.
of protection to mobile as they have to desktop transac-
tions. The study argued that all three companies demonstrat-
ed significantly higher performance than their peers in
Biometric authentication is key to make mobile pay- their data analytics capability and their ability to monitor
fraud across multiple payment channels - including mo-
ment secure
bile - and the use of global threat intelligence networks.
“Digital security companies regard the mitigation of mo- A complimentary whitepaper, ’Managing the Risk of
bile fraud as a key revenue generator in the medium Fraud’, is available to download from the Juniper Re-
term,” claimed report author Gareth Owen. He argued search website together with further details of the full
that this was driving the development and implementa- research.◊
tion of advanced biometric authentication technologies By MediaBUZZ
which the companies claim can make mobile purchases
as secure as any other web-based transactions.
8 Asian eMarketing - June 2016: Mobile Marketing & Advertising: Site development & Apps, Business Strategies & Trends
8
