Fraud and Security in online payments during 2016

fraud-and-security-in-online-payments

According to a ecommerce and online payments market research company report yStats, global online payment fraud has increased at double-digit rates. The German-based firm reveals that retail e-commerce transactions are a very important component in this type of fraud.

As a result of this the different payment platforms They have taken on the task of finding innovative means to make online and mobile payment systems much more secure. In fact, many have already begun to implement biometric authentication, which basically consists of verifying the identity of the customer based on certain morphological elements that are unique to that buyer.

The report reveals that consumers take into account the safety of online payments to decide if they want to buy online and also consider it in their choice of payment method. It is interesting to mention that in the United States buyers have indicated that security in online purchases is more important than speed.

For their part, in Spain and Germany, the security of online payments it is the main concern of online buyers to choose one or another payment method. Another important detail that is mentioned in this report has to do with the reluctance of buyers to provide data, which seems to prevent them from consumers adapt new payment methods, as in the case of payments through mobile devices.

In fact, more than 50% of all respondents in the research around the world said they were concerned about safety in the mobile payment apps. The report also talks about how large the volume of online payment fraud will be in 2020 and what the trends and innovations will be to tackle this problem.


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