Securing E-commerce Transactions: The Evolution of Fraud Prevention

 


Quadrant Knowledge Solutions Reveals that eCommerce Fraud Prevention Market is Projected to Register a CAGR of 20.47% by 2027. The specialized eCommerce fraud prevention solution caters to the needs of eCommerce merchants and payment processors by offering sophisticated fraud detection and management capabilities. It conducts real-time risk monitoring and analysis of transactions, detecting both internal and external fraud across various users, accounts, and channels through a risk-based approach.

 By employing AI-powered machine learning models, rules, and automation, this solution identifies and prevents fraudulent activities as they occur, thereby enhancing order acceptance rates, minimizing chargebacks, preventing customer abuse, and ultimately boosting revenue.

Quadrant Knowledge Solutions defines this solution as a robust framework enabling eCommerce businesses and payment processors to identify and halt high-risk transactions promptly. Utilizing advanced technologies, including AI-powered machine learning models and automation, it evaluates transaction risks in real-time to mitigate fraud-related losses and enhance profitability.

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Key questions this study will answer:

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

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

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

·       Which global region offers maximum growth opportunities in the eCommerce fraud prevention market?

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 Strategic Market Direction:

An advanced fraud prevention solution incorporating the mentioned technologies and capabilities serves to safeguard eCommerce merchants and payment processors against increasingly sophisticated fraud attacks. By addressing various use cases such as chargeback reduction, customer abuse prevention, order acceptance rate improvement, payment fraud reduction, account protection, and loyalty program integrity, this solution reinforces the resilience of organizations against fraudulent activities.

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Vendors covered in this eCommerce 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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