Bitventure’s Post

As more and more transactions move online, fraud is growing exponentially. A recent report predicts that fraud in e-commerce will grow to $107 billion by 2029. This is up from $44 billion this year. That's substantial growth that requires financial institutions to take a proactive approach. TransFund offers a robust suite of anti-fraud tools that will offer your cardholders control and peace of mind. #Fraud #FraudPrevention #DebitCard #ECommerce https://lnkd.in/gusezwx7

💳 Did you know declined payments could cost retailers $165 billion over the next decade? Approximately 35% of customers will abandon a merchant after j𝘂𝘀𝘁 𝗼𝗻𝗲 𝗰𝗮𝗿𝗱 𝗱𝗲𝗰𝗹𝗶𝗻𝗲. How are you protecting your business? 🤔 💡💡 𝗣𝗿𝗼 𝘁𝗶𝗽: 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁 𝗻𝗲𝘁𝘄𝗼𝗿𝗸 𝘁𝗼𝗸𝗲𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 It can prevent declined payments and reduce fraud. Click the link in the comments to learn more. 🔗👇 #NetworkTokenization #EcommerceNews #Locate2uNews

As the holiday season approaches, it's crucial for merchants to stay vigilant in their efforts to prevent chargebacks. The risk of credit card fraud peaks during this bustling shopping period. At Merchant Lynx Services, we have a committed team ready to assist in combating chargebacks, but the best strategy is to avoid them altogether. The accompanying image highlights effective practices to minimize retail chargebacks not just during the holidays, but throughout the entire year. #farudprevention #stopchargebacks #merchantservices

As more and more transactions move online, fraud is growing exponentially. A recent report predicts that fraud in e-commerce will grow to $107 billion by 2029. This is up from $44 billion this year. That's substantial growth that requires financial institutions to take a proactive approach. TransFund offers a robust suite of anti-fraud tools that will offer your cardholders control and peace of mind. #Fraud #FraudPrevention #DebitCard #ECommerce https://lnkd.in/gmMidhER

Are you an e-commerce merchant looking to protect your revenue? Did you know that over 73% of chargebacks are caused by 'friendly fraud'? This is where consumers exploit the system for personal gain, leaving merchants with a challenging dispute process. But fear not! Implementing #3dsecure on your checkout page can help protect you against these types of chargebacks. #PAAY can work with just about any processor and gateway out there to implement #3DS. Don't let 'friendly fraud' break the bank - protect your revenue with 3D Secure today!

Day 4: Fraud Awareness Week. We all have friends, family members and neighbours that are into POS business. Educate them to be alert. Fraudster will come to make a transfer of a specific amount, thereby giving the Agent cash, but unknown to the Agent, the Fraudster will have added another 0 the amount on the POS machine. Example: Customer wants to transfer 10,000 by giving the Agent 10,000 cash. But the Fraudster will add another 0 to it, making it 100,000. So, the Agent will be at a loss of 90,000. Let's help reduce the rate of fraud in our community. #fraudprevention #FraudAwarenessWeek #cfe #aacas

Fraud doesn’t stop at the point of payment – neither should we. 🚨   ESBG welcomes the Euro Retail Payments Board’s (ERPB) timely report on fraud prevention in retail payments. With fraudsters becoming more inventive and the fraud landscape more complex, this report identifies four “gamechanger” actions and best practices to protect consumers and strengthen Europe’s defences against fraud. 👉 Cross-sectoral collaboration and shared responsibilities beyond the payment industry. 👉 Sharing fraud insights and data across sectors. 👉 Supervisory enforcement and cooperation at the EU level. 👉 Product design that prioritizes consumer protection   As digital fraud becomes more complex, the report highlights the importance of cross-sectoral cooperation and innovative solutions. We look forward to supporting these efforts and driving initiatives that protect consumers and enhance trust in Europe’s retail payments ecosystem. 📩 Douglas Lockhart 👉 Read our press release https://lnkd.in/eNRPByTf

Modern fraud requires modern solutions 📱 Digital, instant payments require innovative, collaborative solutions to resolve new forms of fraud... or so finds our multi-stakeholder working group💡 Through the Euro Retail Payments Board, banks, consumers, merchants and more have worked together to identify FOUR GAMECHANGERS for a common approach to fighting modern fraud 🤝 It has been a pleasure to contribute to the work of the ERPB’s Fraud Working Group on behalf of ESBG, alongside ERSTE’s fraud expert Birgit Langeder. Please find the report here 📃: https://lnkd.in/e9afpisJ I am sure this will only be the beginning of the next phase of European multi-stakeholder work to eliminate fraud and protect consumers. 🚀

Chargeback Fraud | How a Customer Protection Tool Is Victimizing Merchants 💻 Find out more: https://lnkd.in/e5FvaTdU eCommerce is full of promise, but it also comes with its share of risks, especially from chargeback fraud. In our latest blog post, author {{linkedin_mention(urn:li:person:Yq6UU7MgpV|Dado Kalem)}} explores the impact of this growing issue, detailing the costs to merchants and effective strategies to combat it. This post breaks down the types of chargebacks, the financial impact on merchants, and most importantly, what can be done to combat these threats effectively. #eCommerce | #ChargebackFraud | #FraudPrevention

AFC Ecosystem: Typology Tales In today’s edition, we take a look at card-related fraud techniques. As e-commerce continues its steady growth trajectory at ~7-8%, #CNP fraud poses an escalating risk for e-tailers, payment processors, e-wallets, credit cards, and marketplaces. To counter this threat our experts from the global AFC Community have shared their insights and the red flags involved in a recent typology added to the AFC Ecosystem. What is the Typology:💡 Monitoring Card not present fraud-related red flags. Head on to our #AFCEcosystem page to get more insights on the above scenario https://hubs.la/Q02ymyrG0 #TypologyTales #AML #Fraud #Merchants #CreditCardFraud #Tookitaki