New research reveals the implementation EMV and NFC cards in the U.S. has driven online fraud upward by 80-100%.
The March edition of the Digital Identity Tracker, a forum for framing and addressing key issues and trends in fraud and identity protection, also found total revenues lost from eCommerce transactions due to fraud nearly doubled from 2014 (0.68%) to 2015 (1.32%). Additionally, a mere 1.1% of consumers indicated the use of mobile payments – widely considered to be the best defense against fraudsters – as the payment method most often used to pay for purchases.
Furthermore, there is a 15% year-over-year increase of money spent online.
PYMNTS.com says Socure will now be powering the PYMNTS.com Digital Identity Tracker.
With the addition of 9 new player profiles — now totaling 110 companies – platforms are categorized by four key digital identity capability areas: generate, store, secure, and interact.
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