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200% Increase in Online Payment Frauds Expected by 2023

March 30, 2019

200% Increase in Online Payment Frauds Expected by 2023
As per the Global Online Payment Methods Analysis Report 2019 that was released by Research and Markets recently, online payment frauds are expected to increase twofold by 2023. However, it said that online shoppers still appreciate the convenience and ease of online payments. For instance, a large number of digital buyers based in the US and the UK save their credit/debit card details on the websites for faster checkouts during future purchases. Additionally, mobile payment services have also quite popular as a third of mobile users use mobile payment services across the globe.

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