July 11, 2018 — As eCommerce fraud fear rises, the impact of security on customer experience must be considered.
Robert Capps, VP at NuData, wrote on a report issued yesterday by All EC, disclosing the tactics that retailers can use to effectively mitigate CNP fraud. According to a recent study from the Federal Reserve Bank of Minneapolis, the average retailer’s biggest worry is eCommerce fraud, but there are barriers to preventing it, including ruining customer experience. Capps suggests that by patching POS devices, and using passive biometrics and behavioral analytics in a multilayered solution, CNP fraud can be controlled to a high degree, without compromising sales through excessive interdiction.
The options to steal sensitive information have been evolving constantly, but if the stolen data is not useful to make a profit, fraudsters will lose interest in it.