$2.9 Trillion

total revenues generated by players in the payments industry by 2022

9%

the annual growth rate of the payments & billing industries, with an increasing share going to nimble fintechs

34%

the annual growth rate of fraud attempts on players within the payments and billing industries

Payments & Billing

New legislation and more demanding consumers

Big Changes. Big Opportunities

The Challenge

Digital payment fraud has never been more sophisticated and the financial rewards for the perpetrators have never been greater. If you accept or facilitate payments over the web, you are likely to see your fraud rates grow as your adversaries are better capitalized and better staffed than ever before.

The Solution

Broad-based attacks, schemes, and strategies can be most effectively countered with a unified, technology-based defense adopted by all the potential targets – a massive cross-industry, cross-border collaboration at a scale that businesses (and fraudsters) have not yet experienced.

Recommended Products & Solutions

Digital Strategy and Fraud

Unprecedented change is altering the very fabric of the global payments industry. PSD2 has opened up the way banks compete and new payment technologies, such as contactless payments and digital wallets, will soon represent the majority of all transactions.

To date, agile fraudsters have taken advantage of banks’, merchants’ and payments processors’ limited ability to adapt. Even among well-funded organizations, key resources and critical forensic data, investigative expertise, and data science capabilities are broadly scattered across across cybersecurity, accounting, fraud, compliance, legal, and IT departments, with little sharing or coordination.

Combat fraud leveraging data science and analytics, gradually moving away from a narrow focus on false positives and loss prevention. Organizations have access to exponentially more customer and transaction data than in the past and new technologies create the means to more accurately segment customers by risk. This means low-friction digital experiences for low-risk customers. Harness Fraud.net’s capabilities to reduce losses, detect and prevent emerging fraud, and enhance customer experience.

TALK TO AN EXPERT

The Network Effect

Broad-based attacks, schemes and strategies can be most effectively countered with a unified, technology-based defense adopted by all the potential targets – a massive cross-industry, cross-border collaboration at a scale that businesses (and fraudsters) have not yet experienced.

TALK TO AN EXPERT