Payment Abuse in the Fraud Economy: Growth Fueled Risk and Moving Targets

Payment fraud decapitates business growth‚ÄĒbut before a company‚Äôs market opportunity even comes to a head, fraudsters hellbent on financial theft can attack vulnerabilities across on-site customer journeys, and across the internet, stealing data and funds, and putting online merchants at risk long before a login, transfer, or transaction even takes place.

Fraudsters have plenty of motive to snatch revenue when the probability of a payout is so high: last year, consumers spent $871 billion online with U.S. merchants alone, up 14.2% year-over-year. Between 2020-2021, average daily transaction volumes across Sift’s global merchant network rose in every industry, with the biggest surge in fintech at 121% growth YoY.
Order volumes shot up by about 24% in marketplaces, and 34% in travel & hospitality, signaling new fluctuations in demand for markets hit hard by the pandemic. And while volumes rose less dramatically in digital goods & services, on-demand, and retail, fraudsters follow growth and spend wherever it shows up‚ÄĒand the pool of potential victims gets larger by the day.

In this webinar, you’ll learn:

  • Payment abuse in the Fraud Economy
  • Fraud rates and trends by Vertical
  • The anatomy of a fraud ring: dissecting abuse tactics and technologies
  • Outsmarting payment fraud in the age of automation

Secure your business from login to chargeback

Stop fraud, break down data silos, and lower friction with Sift.

  • Achieve up to 285% ROI
  • Increase user acceptance rates up to 99%
  • Drop time spent on manual review up to 80%
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