Online shopping is booming. Today's consumers expect the flexibility of a choice of payments whatever the channel (in-store, online or mobile). To address these changing expectations, merchants have adapted their operations, including their payment processes.
While international security standards such as the EMV (European Mastercard Visa) have brought about far greater protection for in-store purchases, online shopping remains more vulnerable.
According to figures from the European Central Bank, remote card payments currently account for 60% of the total value of payment card frauds in Europe.
To help them adapt to changing purchasing habits while keeping the associated risks under control, without curbing growth of their online sales, merchants can rely on Ingenico Payment Services – an expert partner in online fraud prevention.
Tackle online fraud relies on effective management of the fraud-conversion-prevention balance. Fraud prevention systems generally involve a combination of various detection tools designed to automate decision-making and reduce risks. For merchants, the challenge is ensuring that these systems do not reject too many legitimate transactions or discourage consumers with too restrictive authentication processes.
Elie Casamitjana, Product Manager Fraud Prevention Solution at Ingenico Payment Services, commented, "We already offer fraud prevention solutions to several thousand merchants around the world. We are using our expertise to continuously develop our tools and services for each customer, each payment method and each country. Our services go beyond technological solutions, encompassing human expertise to support merchants' specific needs."
For further information, Ingenico Payment Services has published a White Paper setting out 8 tips from the experts to help merchants effectively tackle online fraud.