Merchants Call For More Mobile-Specific Fraud-Prevention Measures

As mobile becomes more prominent, merchants grow increasingly fearful of fraud 

There’s no doubt that the mobile channel has begun to grow more important for retailers. However, as merchants begin to invest in mobile, their concerns about fraud and security are also increasing. According to the 2014 Mobile Payment and Fraud Survey by Kount, “Not only are organizations now more likely to find that fraud risk associated with the mobile channel is higher than with standard web e-commerce, but organizations are also more likely to believe the mobile channel acquires additional tools for managing risk.”

For the merchants surveyed, the mobile channel has begun to play an increasingly larger role in business. This year, mobile accounted for 20 percent of the merchants’ businesses — double that of last year. The percentage of merchants now supporting mobile has also increased by 30 percent year to year, reaching 66 percent. It seems that businesses are turning to the app as an important way to get consumers engaged with mobile in the midst of shopping. Now, 54 percent of merchants offer a mobile app for online shopping — an impressive jump from only 21 percent last year. Similarly, nearly half of merchants have begun to offer a dedicated mobile site to provide a mobile-friendly shopping experience for guests.

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