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Merchants lag behind mobile fraud
20
May '15
As the mobile channel continues to grow and mature, fraud is also keeping pace with increasing mobile transaction volumes. The 2015 Mobile Payments & Fraud Survey has found that many organizations are not taking the necessary measures to understand and combat fraud in the mobile channel as less than 40 per cent of merchants differentiate or track mobile from traditional e-commerce fraud losses.

The survey concluded among other things that the rate of growth in the mobile channel may be decelerating, but overall growth is still significant. Over 69 per cent of organizations actively support the mobile channel today, up from 63 per cent in 2013. Meanwhile the share of merchants that earn less than 5 per cent of total revenue in the mobile channel fell from nearly half of merchants in 2012 to only about one-third of merchants today.

The shift in focus on payments has reduced the attention on risk management for the mobile channel. Organizations concerned with addressing how to manage fraud risk as the greatest obstacle to mobile adoption fell to 11 per cent from 20 per cent last year.

Meanwhile, organizations are more likely to believe the mobile channel is less risky or equally as risky as standard e-commerce and more likely to state that standard e-commerce fraud processes can support the mobile channel compared to last year’s survey.

The study also concluded that organizations are increasingly able to recognize when consumers are coming from mobile devices but are not doing nearly as much to track mobile channel fraud risk trends relative to standard e-commerce or other channels.

Higher-revenue merchants have more resources to fund mobile channel initiatives. Thus,they are more likely to be able to detect mobile devices, more likely to have mobile apps and mobile dedicated websites, and use more fraud tools and services for the mobile channel on average, the survey noted.

It found that the share of merchants that are able to detect when a consumer is transacting online from a mobile device, grew to 57 per cent this year, up from 50 per cent in 2013 and 45 per cent in 2012. While more merchants are able to detect when a transaction is coming from a mobile device than ever before, not as many merchants are taking the next step to track and potentially treat fraud differently between the mobile and standard e-commerce channels. (SH)

Fibre2fashion News Desk – India

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