Payments News

Online retail card fraud drops during Black Friday weekend

Nov 30, 2017
Online retailers — and consumers — have something new to be thankful for this holiday season: a decrease in online fraud.

For the first time in recent years, credit card fraud — which remains the highest fraud type for online retailers — has dropped to 42% of total fraud during the holiday weekend (Nov. 24 – 27, 2017). This level was 59% of total fraud for the same period in 2016, according to data from device intelligence for authentication and fraud prevention provider Iovation.

Overall, this decrease demonstrates that online retailers are making strides in their ability to identify and prevent card-not-present (CNP) fraud which has been on the rise since brick-and-mortar retailers have increased their adoption of EMV card technologies, the study reported.
 
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https://www.chainstoreage.com/technology/online-retail-card-fraud-drops-black-friday-weekend/