Remember the good ol’ days of bartering? Probably not, since it hasn’t been a proper form of payment in over 5,000 years. Society shifted from bartering to using barley, then coins, and later banknotes and checks to represent value. With modern advancements in technology came plastic cards, eWallets, and other new payment methods. While this […]
Fraud Prevention
Fraud Prevention
Back to the Basics: 3DS Explained
3-D Secure, or 3DS, is a strong customer authentication protocol activated during a card-not-present (CNP) checkout process to confirm the cardholders’ identity prior to authorization. It is an extra layer of protection designed to reduce the risk of online fraud. Merchants all over the world use 3DS as a component of their eCommerce fraud prevention […]
Fraud Prevention
Primed for Prime Day: The Dual Fraud Headache of Online Marketplaces
Get the whitepaper Online marketplaces have dominated the eCommerce space for the last decade, from giants such as Amazon, Wish, and Alibaba to vertical B2C/C2C marketplaces offering specialty curated goods, such as StockX, Vestiaire Collective and others. With Amazon’s Prime Day around the corner, the entire eCommerce ecosystem is gearing up for this year’s much […]
Fraud Prevention
The Year That Fired Up The Sneaker Industry
This behavior confirmed a growing consensus that sneakers are becoming more and more like global financial assets. They trade like currency on a variety of reseller platforms such as Flight Club, Stadium Goods, and StockX. The year for sneaker fans, and fraudsters When we first provided an outlook on sneakers in June 2020, we predicted […]
Fraud Prevention
A Helpful Hand: How Partnerships Can Boost Airlines’ Recovery
Airlines are not strangers to turbulence. But in early 2020, the COVID pandemic introduced airlines, and the global travel industry, to challenges on a new scale. With vaccine rollout, the future is promising but the business environment will continue to be a challenging one. If airlines take advantage of the current ‘downtime’ to prioritize cost-saving solutions, […]
Fraud Prevention
On Ramadan, Consumers and Fraudsters Enjoy a Bit of Late-Night Shopping
Riskified data show that high-end fashion merchants, department stores, and online marketplaces enjoyed a spike in transaction volume during Ramadan month in 2019, and even more so in 2020. Bolstered by the rapid shift online, the transaction volume processed by marketplaces between April 23 and May 23 of last year outpaced even the number of […]
Fraud Prevention
Payment Declines: The $600 Billion Problem You Aren’t Aware Of
eCommerce businesses spend most of their budget on customer acquisition, focusing on getting consumers to hit the “buy” button. While failing to reach the proper target audiences in the appropriate channel tends to be one of the biggest factors contributing to acquisition leakage, another looming threat, the problem of payment declines, is often overlooked. According […]
Fraud Prevention
5 Fraud Trends and Shopping Behaviors Impacting Luxury Fashion in 2021
The acceleration of eCommerce activity in 2020 has primed 2021 for real digital transformation. One of the sectors most fit for innovation is the fashion industry. Consumers enjoy the ability to try on clothes and accessories in store, and with lockdowns still persistent around the globe, fashion retailers will be challenged to make online shopping […]
Fraud Prevention
2021 eCommerce Fraud Trends: Classic Goes Out of Style
As everything shifted to digital, merchants had to innovate. They rolled out new omnichannel flows, streamlined processes to improve fulfillment, and offered new perks and policies to boost loyalty. With more online shopping activity comes greater opportunity for fraud, and fraudsters rose to the occasion. They were quick to pivot and detect new vulnerabilities during […]