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The latest data to emerge on rising ATO (Account Take Over) fraud in the US should be of real concern to anyone engaged in online commerce. In its 2020 E-Commerce Report, TransUnion Global Fraud & Identity Solutions reports a 347% increase in account takeover fraud, and a 391% rise in shipping fraud attempts globally against online retail customers between 2018 and 2019.
Doug Gray, Chief Commercial Officer at iAxept, says the holy grail of online commerce – improving transaction security while reducing consumer friction – is achievable. By adopting online contactless payments, merchants can improve security, speed up transactions and grow e-commerce sales.
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