Merchants are wary of the level of exposure they face from e-commerce transactions. Hacks can lead to heavy fines and reputational damage, while fraudulent transactions can lead to loss of revenue.
There are a number of ways in which payments companies are helping these merchants to reduce the risk of loss of earnings due to fraud. Daniel Kornitzer, chief product officer at digital payments provider Paysafe, says there is often a defined pattern of behaviour that is flagged up when fraud is taking place on an account.
“Fraudulent transactions will often have suspicious characteristics, such as repeated logins, unusual addresses or unusual payment amounts, and overuse of odd or free email addresses,” he says.
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