As digital commerce and payments grow, fraud grows with it. That’s going to get worse before it gets better as merchants and their payments partners decipher the many-faced fraud beast.
Immense expansion of digital commerce and digital payments over the past two years is benefitting consumers and corporations, but much work remains to secure it all.
“Inevitably, when you get growth in anything, particularly in payments that switch from [traditional] payment methods to digital payments, you’re still going to get an increase in fraud,” said Carl Churchill, managing director at payment services provider (PSP) technologi.