Kount Fraud Insights: The Fraud Impact of Surging Mobile Payments
Boise, IDAHO – (April 24, 2012) – Knowing the specific mobile device used by a customer sheds additional light on the risk of fraud during a transaction. This is one of several findings detailed within the just-released Kount Fraud Insights: Mobile Transactions and Fraud report. Kount Inc., a leading provider of fraud prevention technology, is launching a regular series of fraud insights to provide greater understanding of the global fraud landscape, the latest trends and steps companies should take now to protect their bottom line.
“Assessing the risk of a specific device, whether static or mobile, is one of many components to consider as part of a company’s overall fraud management system which can substantially improve the bottom line,” noted Steve Rouse, chief operating officer, Kount. “One interesting trend detailed here shows the approval rate of iPads is among the worst of mobile devices while the fraud rate is fairly minimal and the average transaction amount is easily the highest. When you combine a fully integrated system like Kount Complete™ with our expert resources, you can refine your fraud system to minimize these inconsistencies so you can sell more to more people in more places with less risk.”
As mobile payments continue to grow at a substantial pace and evolve to an industry standard, mobile device behavior will provide card-not-present companies with insights that can be leveraged into a significant competitive advantage. Kount is able to deliver insights on current fraudulent behavior and evolving trends based on the hundreds of millions of transactions it has reviewed with its technology. The data used for the latest Fraud Insights report includes transactions reviewed between January 2010 to January 2012.
Kount delivers an all-in-one fraud and risk management platform for companies working in card-not-present environments looking to simplify their fraud/risk operations while dramatically improving bottom line results. Kount provides a single, turnkey fraud solution that is easy-to-implement and easy-to-use. Kount’s proprietary technology has reviewed hundreds of millions of transactions and provides maximum protection for some of the world’s best-known brands. Kount’s solution is feature rich and technology proven. For more information about Kount, please visit www.kount.com.