Survey Seeks Online Merchant Feedback to Assess Mobile Payments & Fraud
Boise, ID; Newburyport, MA; and Sarasota, FL - October 18, 2012 – As mobile payments surge and fraud follows, Kount, Inc, The Fraud Practice LLC, and CardNotPresent.com are assessing the changing landscape of this fast-growing sales channel with an online merchant survey that will highlight the needs of online merchants and the service providers that support them.
“Technology continues to change the way consumers engage, shop and transact with businesses,” noted David Montague, president & executive consultant, The Fraud Practice LLC. “For many in the industry it is understood that web-enabled devices, such as mobile phones, smartphones and tablets, will fundamentally change the ways consumers and merchants interact; not unlike the Internet did in the 1990s. However, knowing it is coming doesn’t mean the industry knows how it will really look, feel or affect systems and operational procedures.”
The survey, which currently is accessible via the link Mobile Payment & Fraud Survey, will be open until November 10. Feedback from online merchants, service providers, acquirers, card issuers and card associations then will be analyzed to identify current trends and emerging opportunities to combat fraud in this fluctuating e-commerce landscape. The final report is expected to be available in early 2013.
“While the total number of transactions performed by mobile devices is still relatively small compared to total transactions, this channel is rising at breakneck speed,” said Don Bush, Marketing Director at Kount, one of the sponsors of the survey. “The industry will need to get a better handle on issues like payments and fraud surrounding mobile transactions in order to maximize revenue potential.”
“The drive to move commerce to the mobile phone is not a new endeavor,” continued Montague. “It has been in the works for a number of years. More people have mobile phones than credit cards worldwide, and most of us have our mobile devices within arm’s reach at all times. Mobile offers new opportunity for all members of the e-commerce ecosystem and information from the 2012 Mobile Payments and Fraud Survey will help all of us assess and prepare to better take advantage of that opportunity.”
"We're pleased to join Kount and The Fraud Practice to identify and analyze the growing threats to merchants and consumers as mobile payments continue to gain traction in the marketplace,” said Steven Casco, founder and publisher of CardNotPresent.com, the only publication focused entirely on card-not-present payments. “A recurring headline in card-not-present payments is that consumers remain wary about the security of using mobile devices to make purchases, but when we see that 15 percent of our own traffic comes from users on mobile devices, clearly the buzz around mobile is beginning to turn into action. It only makes sense to survey our readership and find out how companies in the CNP payments industry are arming themselves against mobile payments fraud.”
The Fraud Practice LLC provides training and consulting services on e-commerce payments, fraud prevention and credit granting to help businesses build and manage their fraud and risk prevention strategies. CardNotPresent.com is an independent voice generating original news, information, education and inspiration for and about the companies and people operating in the card-not-present space. Combining their industry insight and expertise with Kount, a leading provider of fraud prevention technology, the survey will provide a thorough analysis of one of the most dynamic and challenging environments facing online retailers today.
Kount helps businesses boost sales by reducing fraud. Our all-in-one, SaaS platform simplifies fraud detection and helps online businesses accept more orders. Kount’s turnkey fraud platform 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. Merchants using Kount can accept more orders from more people in more places than ever before. For more information about Kount, please visit www.kount.com.
About The Fraud Practice LLC
The Fraud Practice is a privately held US LLC based in Sarasota, Florida. The Fraud Practice provides training and consulting services on eCommerce payments, fraud prevention and credit granting. Businesses throughout the world rely on The Fraud Practice to help them build and manage their fraud and risk prevention strategies. For more information, please visit www.fraudpractice.com.
As one of the only sources of content focused solely on the growing card-not-present (CNP) segment of the payments industry, CardNotPresent.com is an independent voice generating original news, information, education and inspiration for and about the companies and people operating in the CNP space. The company’s media platforms include the CardNotPresent.com portal, CNP Report, CNP Expo, and CNP Awards. Sign up for free to receive the twice-weekly CNP Report featuring comprehensive coverage of the CNP payments space at www.cardnotpresent.com/signup/.