Unauthorized Transactions Hit New Highs: How Merchants Can Protect Themselves
Ecommerce merchants are getting hit by a staggering surge in unauthorized transactions, which skyrocketed by 33 percent from 2016 to 2017 – and there’s no end in sight.
A 2017 study conducted by Javelin Strategy & Research, Exploring the Financial Impact of Fraud in a Digital World, found that on average, merchants lose 8 percent of their annual revenues, or more than $1 million per year, to fraud. In 2016-2017, unauthorized transactions alone cost more than $462,000 per merchant, or nearly 50% of all fraud losses.
This eBook explains what’s fueling the crisis in unauthorized transactions, and provides actionable insights that merchants can use to cut their losses, including:
- How unauthorized transactions are being executed
- The differences between unauthorized transactions and other popular fraud types, like account takeovers and friendly fraud
- Which merchants and sales are at greatest risk of being targeted for unauthorized transactions
- Steps merchants can take now to protect themselves