With the increase of mobile commerce brings a parallel increase in fraudulent mobile transactions, according to a recent report from Kount. For months, mobile commerce transactions have been increasing at dramatic rates, in some cases even surpassing desktop e-commerce and brick-and-mortar purchases. Although in-store and online transactions may be better protected against fraud threats, many merchants are still catching up with fraud protection measures on the mobile front.
The report goes on to explain that e-commerce and brick-and-mortar transactions saw decreases in fraud rates since 2011, while at the same time, drastic increases as high as 81% have been seen in mobile fraud. As the nature of fraudulent activity continues to evolve, merchants must evolve with it, working to get ahead with mobile authentication solutions and to better understand where purchases are originating.
Click here to read the full report on Card Not Present.com