Worldpay 2016 Fraud Trends Report
July 06, 2016
Worldpay released its Fraud Trends 2016 report, with the latest perspectives on international eCommerce fraud
The global eCommerce market will be worth a staggering US $2.4 trillion by 2019. In short, online payment fraud is a bigger challenge than ever.
Worldpay asked customers their view on four key areas such as mobile, the role of data, the use of social media to fight fraud and the view on the future of fraud.
The Worldpay Fraud Trends 2016 report shows that:
- Most merchants are treating mobile transactions the same as any other, and not assessing them differently for fraud risk.
- Merchants are not sharing data effectively with their fraud teams, and more information could help them make much richer decisions.
- Social media is heavily used in manual review and is an area of significant potential.
- Merchants know that the future will be about more data and more automation of fraud assessment.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to over 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types.