The Evolution of E-commerce Fraud: Understanding Modern Threats and Prevention Tactics


 

Quadrant Knowledge Solutions Reveals that E-commerce Fraud Prevention Market is Projected to Register a CAGR of 20.47% by 2027. The eCommerce fraud prevention solution is a specialized tool designed for eCommerce merchants and payment processors to detect and manage fraud. It provides comprehensive, real-time risk monitoring and analysis of all transactions, identifying both internal and external fraud across all users, accounts, and channels through a risk-based strategy. 

This solution helps detect and prevent fraud in real-time, thereby improving order acceptance rates, reducing chargebacks, preventing customer abuse, and boosting overall revenue.

The main goal of this solution is to enhance the customer experience and give merchants and payment processors the confidence to focus on revenue optimization rather than fraud prevention. Advanced fraud prevention platforms leverage emerging technologies like artificial intelligence and machine learning to quickly detect and prevent new types of fraud, minimizing losses.

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Key questions addressed by this study include:

· Is the eCommerce fraud prevention market growing? What are the short-term and long-term growth potentials of this market?

· What are the key market accelerators and restraints affecting the global eCommerce fraud prevention market?

· What are the major end-user industries for eCommerce fraud prevention? Which industries offer the most growth opportunities during the forecast period?

· Which global regions offer the most growth opportunities in this market?

· Which customer segments have the highest adoption of eCommerce fraud prevention?

· What are the different deployment options for eCommerce fraud prevention?

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Strategic Market Direction:

E-commerce fraud prevention vendors are enhancing their technological value proposition by improving the performance of advanced machine learning models, leveraging AI, automation, and advanced analytics, and increasing partnerships for consortium data to enhance the accuracy and speed of fraud detection. An advanced fraud prevention platform helps organizations implement an effective fraud management strategy.

Incorporating these technologies and capabilities, advanced fraud prevention solutions enable e-commerce merchants and payment processors to counter increasingly sophisticated fraud attacks. They support use cases such as reducing chargebacks, preventing customer abuse, improving order acceptance rates, reducing payment fraud, protecting accounts, and addressing loyalty abuse.

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Vendors covered in this E-commerce Fraud Prevention study:

Accertify, ACI Worldwide, Bolt, BPC, ClearSale, CyberSource, Feedzai, Forter, Kount, LexisNexis Risk Solutions, Ravelin Technology, Riskified, Sift, and Signifyd.

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