Data fuels today’s e-commerce landscape, from marketing to post-transaction analysis. After all, customers don’t want one-size-fits-all shopping experiences – they crave personalized attention, targeted offers, and checkouts that remember their preferences.
Although clicking, browsing, and buying have never been easier, this data-driven world also opens the door to fraud. Today’s fraudsters can easily exploit retailers by leveraging comprised data, breached financial information, malware, and other sophisticated tools. In fact, experts forecast that sellers will lose over $362 billion globally between 2023 and 2028 from online payment fraud alone.1
It’s clear: some traditional risk management strategies are failing to protect merchants. To fight fraud, businesses should consider working with partners who can leverage vast risk intelligence networks.
E-commerce has exploded in recent years – online sales are predicted to exceed $6.3 trillion in 2024.2 Unfortunately, this massive growth has also led to a rapid increase in fraud, both in terms of volume and sophistication.
Fraudsters have made significant investments in data, technology, and business models to be successful at their jobs. Today, the most common types of fraud include:
In response to these fraud risks, businesses are adapting their risk management strategies accordingly. Major trends that will shape the fraud management, digital payments, and e-commerce market over the next 36 months include:
Adaptive risk management planning involves anticipating and reacting to the ever-changing fraud threats outlined above. This strategy is designed not just to cope with changes but to capitalize on them, ensuring that businesses are always a step ahead.
By using comprehensive fraud management solutions to bring their risk management strategies to life, sellers enjoy:
Our fraud risk management solutions leverage PayPal’s extensive two-sided network, combined with machine learning and analytics, to detect and block fraud more accurately in real time.
The results? It might help have fewer chargebacks, lower false positive rates, less customer friction, lower fraud losses, and improved operational efficiency.
PayPal makes standalone and integrated solutions available to e-commerce and financial services businesses of all sizes, providing scalability as businesses grow.
To support your risk management strategies, our robust fraud prevention suite includes:
As more consumers opt for the convenience of digital commerce, having a robust fraud solution in place is more important than ever. Explore how PayPal can protect your business today.
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