Fraud has always been a part of human societies. However, the rapid rise in digital activity has created new opportunities for fraudsters, exposing businesses and consumers to increased risks of fraud and data breaches.
As online fraud is increasing, not all merchants are equipped to identify and prevent the new attack methods. Merchants need to use a combination of e-commerce fraud prevention best practices and tools for comprehensive fraud detection and prevention. Various tools exist, such as fraud platforms, payment solution gateways and chargeback guarantee services.
Let’s look at some key features that companies should look for in e-commerce fraud detection and prevention best practices.
Learn how Nexway can protect your business and help you safely grow your business
Nexway Monetize can manage your entire payment journey – from accepting payments, fraud prevention, currency conversion, taxation and security management, local tax and VAT management, chargeback detection and negotiation, customer data protection compliance (GDPR) to managing pay-outs to your suppliers around the world.
Don’t try to combat fraud all on your own. Let Nexway help. Contact us today to learn more.