Fraud & Security in Global Online Payments, 2019 - Mobile Biometrics to Help Mitigate Fraud in E-Commerce
DUBLIN, July 15, 2019 /PRNewswire/ -- The "Fraud and Security in Global Online Payments 2019" report has been added to ResearchAndMarkets.com's offering.
The rising costs of online payment fraud
The level of online payment fraud is on the rise worldwide, as more consumers turn to digital shopping channels to make their purchases. According to a projection referenced in the report, the global losses from online payment fraud, covering E-Commerce, digital travel, and online banking transactions, could double between 2018 and 2023.
Mobile biometrics to help mitigate fraud in E-Commerce
Payment security is a top factor that shoppers pay attention to when buying online, according to recent surveys. Furthermore, fear of fraud is one of the top reasons why many Internet users in regions such as the Middle East & Africa prefer not to shop online.
E-Commerce sellers, payment providers, and financial institutions are thus forced to invest in the newest technologies to mitigate the risk of fraud and attract more online buyers. Mobile biometrics is among the most trending technologies that financial fraud professionals deem most effective in combating online payment fraud.
Questions Answered in this Report
- How large are online payment fraud losses predicted to be in 2023?
- What are the Card-Not-Present fraud volumes in Australia, the UK, and the USA?
- How important is online payment security to digital buyers worldwide?
- What are the top trends in online payment fraud prevention?
- How do payment security and fraud influence the development of mobile payments?
Companies Mentioned
- Mastercard Inc.
- PayPal Inc.
- Visa Inc.
Key Topics Covered
1. Management Summary
2. Global Developments Overview of Online Payment Fraud Trends, May 2019 Online Payment Fraud Losses, in USD billion, 2018e & 2023f Breakdown of Feelings Consumers Have Towards Card Transaction Declines in Online Shopping, in % of Online Shoppers, by Frequency of Online Shopping, July 2018 Breakdown of Most Important Factors in Consumers' Online Experience, in % of Consumers, 2018 Share of Consumers Who Have More Confidence in a Business That Uses Physical Biometrics for Online Security, in %, 2018 Share of Respondents Who Would be Willing to Use Fingerprint or Other Biometric to Secure Their Payment Details, in %, 2018 Number of Remote Mobile Biometric Transactions, in billions, and Their Share of Total In-Store and Remote Transactions Authenticated via Mobile Biometrics, in %, 2018 & 2023f Breakdown of The Perceived Level of Security of Blockchain Solutions Compared to Conventional IT Solutions, in % of Senior Executives, March 2019 Top 10 Blockchain Use Cases, in % of Senior Executives, 2018 Spending on Fraud Management Solutions, 2017 & 2023f
3. Asia-Pacific 3.1. Regional Estimated Card Not Present Fraud Share, in % of Total Card Payment Fraud, 2018 Share of Businesses That Experienced an Increase of Online Fraud Losses Over The Past Year, in %, Compared to Those With The Same Amount of Fraud and Less Fraud, 2018 Breakdown of The Most Important Factors in Consumers' Online Experience, in % of Consumers, 2018 Top 3 Organization Types Most Trusted by Consumers in Handling Their Personal Data, in % of Consumers, 2018 3.2. China Internet Security Incidents Encountered by Internet Users, in %, 2018 Types of Online Fraud by Internet Users, in % Internet Users Who Encountered Online Fraud, 2018 Major Concerns Related to Mobile Payments, in % of Mobile Payment Users, 2018 Top Security Issues in Mobile Payments, in % of Mobile Payment Users, 2018 Share of Mobile Payment Users Willing to Use Biometrics for Mobile Payment Authentication, in %, 2018 3.3. Japan Card Payment Fraud Losses, by Type, in JPY billion, 2014 - 2018 Top Factors Considered When Selecting a Payment Method, in % of Consumers, by Consumers Paying With Cash and Consumers Paying With Non-Cash Payment Methods, June 2018 Reasons for Not Using QR-Based Mobile Payments, in % of Non-Users, January 2019 3.4. South Korea Breakdown of Perception of The Security of Mobile Payment Methods Compared to Conventional Payment Methods, in %, 2018 Top 3 Preferred Method of Authentication in Mobile Payment Services, in % of Users, 2017 & 2018 3.5. Australia Card Not Present Fraud, in AUD million, and Share of Total Card Payment Fraud, in %, FY 2017 & FY 2018 Share of Cross-Border E-Commerce Orders Rejected by Merchants Due to Suspected Fraud, n % of Australian Cross-Border E-Commerce Merchants, 2018
3.6. Malaysia Reasons for Not Shopping Online, in % of Internet Users Who Do Not Shop Online, 2018 Top 3 Barriers to E-Wallet Adoption, in % of Non-Users of E-Wallets, 2018 3.7. Vietnam Reasons for Not Shopping Online, in % of Internet Users Who Do Not Shop Online, 2018
4. Europe 4.1. Regional Overview of Strong Customer Authentication Requirements Under PSD2, April 2019 Overview of The Strong Customer Authentication Perceptions by Industry Participants, June 2019 E-Commerce Merchants' Readiness to Support Strong Customer Authentication, in %, November 2018 Levels of Awareness and Preparation of E-Commerce Merchants to Strong Customer Authentication Requirements, by SMEs and Large Businesses, June 2019 Share of Consumers Who Are Unaware of the Strong Customer Authentication Requirements for Online Purchases, in %, June 2019 Share of Consumers Who Prefer One-time Passcodes for Authentication, Compared to Fingerprint Recognition, in %, June 2019 Barriers to Buying Online, in % of Online Shoppers, July 2018 Attitudes to Security of Online Shopping, incl. Payment-Related, in % of Online Shoppers, by Austria, Germany and the UK, April 2018 4.2. UK E-Commerce Fraud Loss on UK-Issued Cards, in GBP million, and Share of Total Card Purchase Fraud Loss, in %, 2013 - 2018 Top 10 Reasons for Shopping Cart Abandonment, in % of Online Shoppers, 2018e Breakdown of Consumers' Perception of Whether They Currently Undergo Enough Security Checks When Making an Online Payment, in % of Consumers, 2018 Breakdown of the Preferred Way of Receiving a One-time Passcode to Verify a Payment Transaction, in % of Consumers, 2018 Share of Cross-Border E-Commerce Orders Rejected by UK Merchants Due to Suspected Fraud, in % of UK Merchants, 2018 4.3. Germany Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018 Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018 Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018 Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018 Breakdown of Usage of 3D Secure for Credit Card Payments, in % of E-Commerce Sellers, 2017 - 2019 Breakdown of the Perceived Change in Shopping Cart Abandonment Rates After Choosing Credit Card Payment as a Result of 3D Secure, in % of E-Commerce Sellers Using 3D Secure, 2019 Breakdown of Importance of Payment Topics in Merchants' Payment Strategy Until 2020, in % of E-Commerce Merchants, 2018 Breakdown of Attitude to Paying by Invoice, in % of Online Shoppers, April 2018 Most Trusted Mobile Payment Providers, in % of Consumers, August 2018 4.4. France Top 5 Services and Obligations of E-Commerce Merchants in 2019 According to Online Shoppers, in % of Online Shoppers, December 2018 Preferred Biometric Authentication Methods in E-Commerce, in % of Online Shoppers, 2019 Breakdown of Main Barriers That Make Consumers Hesitant to Purchase Online, in %, by Total Population and Online Shoppers, June 2018 Share of 3D Secure Payments, in % of Online Card Payments, April 2011 - April 2018 Breakdown of Attitudes Towards Mobile Payments, in % of Internet Users, February 2018 4.5. Spain Breakdown of Factors Most Important in Online Payment Methods, in % of Online Shoppers, October 2018 4.6. Italy Fraudulent Transactions' Share of E-Commerce Sales, in %, 2017 4.7. Austria Share of Online Shoppers Who Fell Victim to Internet Fraud, in %, and Type of Fraud Experienced, in %, November 2018 Factors Taken into Account by Online Shoppers in Order to Avoid Fraud, in % of Online Shoppers, November 2018 Share of Online Shoppers Who Experienced Internet Fraud, in %, and Type of Fraud Experienced, in %, December 2018 4.8. Switzerland Share of E-Commerce Merchants Who Faced Fraud or Fraud Attempts in Their Online Shops, in %, 2018 Perceived Development of Fraud and Fraud Attempts Over the Past Year, in % of E-Commerce Merchants, 2018 Types of Fraud and Fraud Attempts Faced by E-Commerce Merchants in Their Online Stores, in % of E-Commerce Merchants, 2018 Measures Taken by E-Commerce Merchants to Prevent Fraud in Their Online Stores, in % of E-Commerce Merchants, 2018
5. North America 5.1. USA Card Not Present Fraud Losses, in USD billion, 2015 - 2021f Fraud Losses, by Fraud Type, in USD billion, 2017 & 2018 Synthetic Credit Card Fraud, in USD million, 2015 - 2020f Cost of Fraud as Share of Revenues, in %, 2014-2018 Total Costs per Dollar of Fraud Losses for Retail Merchants, in USD, 2017 & 2018 Total Costs per Dollar of Fraud Losses for M-Commerce Merchants Selling Digital Goods, in USD, 2017 & 2018 Share of Cross-Border E-Commerce Orders Rejected by Merchants Due to Suspected Fraud, in % of USA Merchants, 2018 Attitudes to Security of Online Shopping, incl. Payment-Related, in % of Online Shoppers, April 2018 Actions That Online Shoppers Plan to Take to Protect Themselves from Identity Theft Online During Holiday Online Shopping, in % of Online Shoppers, 2018 Card Payment Fraud Penetration, in % of Consumers, by Card Present and Card Not Present Fraud, 2013-2018 Account Takeover Fraud Types, in % of Account Takeover Victims, 2018 Fraudulent New Accounts Opened, in % of New Account Fraud Victims, 2017 & 2018 Breakdown of Primary Factors That Would Prevent Internet Users From Using a Mobile Payment App, in %, March 2018 Share of Consumers Who Are Worried About Their Personal Information When Using a Mobile Payment App, in %, 2015 - 2018 Share of Adults Who Have Made a Biometric Payment, in %, by Gender and Total, March 2018 Share of Adults Who Believe that Biometric Payment Will Become More Commonplace in the Next 2-5 Years, in %, March 2018 Breakdown of Perceived Effectiveness of Emerging Technologies for Mitigating Financial Crime, in % of Professionals, September 2018 5.2. Canada Most Trusted Payment Methods, in % of Internet Users, April 2019 Breakdown of Payment Methods Perceived as the Safest for Online Purchases, in % of Consumers, 2016-2018 Attitudes to Security of Online Shopping, incl. Payment-Related, in % of Online Shoppers, April 2018 Share of Mobile Wallet Users Who Trust That Mobile Wallet Payment Transactions are Secure, in %, 2016-2018
6. Latin America 6.1. Regional Perceived Barriers to Paying via a Mobile App In-Store, in % of Banked Internet Users Who Have Not Used Mobile Payment Apps to Pay In-Store, by Selected Countries, 2018 Top Motivations to Start Using Mobile Payments Apps/Wallets In-Store, in % of Banked Internet Users Who Have Not Used and Do Not Intend to Use Mobile Payment Apps In-Store Next Year, by Selected Countries, 2018 6.2. Brazil Top 10 Factors Considered When Making an Online Purchase Decision, incl. Payment-Related, in % of Online Shoppers, May 2018 6.3. Mexico Authorization Rate of Payment Transactions on E-Commerce Websites, in % of Transactions and in % of Transaction Value, by Credit Cards and Debit Cards, Q1 2016 - Q1 2019 Chargeback Rate, in % of Number of Authorized Payment Transactions on E-Commerce Websites and in % of Their Value, by Credit Cards and Debit Cards, Q1 2016 - Q1 2019 Share of Online Shoppers Who Stored Information With an Online Merchant and Type of Information Stored with an Online Merchant, in % of Online Shoppers, 2018 Reasons for Not Storing Personal Information With Online Merchants, in % of Online Shoppers Who Do Not Store Personal Information With Online Merchants, 2018 6.4. Colombia Payment-Related Aspects Considered When Shopping Online, in % of Online Shoppers, May 2018
7. Middle East & Africa 7.1. Regional Reasons for Preferring Cash on Delivery, in % of Online Shoppers, 2018 7.2. UAE Top 5 Drivers for Paying by Cash on Delivery in E-Commerce, in % of Respondents, February 2018 7.3. South Africa Breakdown of Barriers to E-Commerce, incl. Payment-Related, in % of Internet Users Who Do Not Shop Online, August 2018 Breakdown of Factors That Would Encourage to Shop Online More, incl. Payment-Related, in % of Online Shoppers, August 2018 7.4. Morocco Barriers to Shopping Online, incl. Payment-Related, in % of Internet Users, March 2018 Problems Encountered When Shopping Online, incl. Payment-Related, in % of Online Shoppers, March 2018
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