The Green Sheet Online Edition
February 2, 2008 • 08:02:01
ISOMetrics
The good news: According to CyberSource Corp., the percent of revenues lost to payment fraud declined from 1.8% in 2004 to 1.4% in 2007.
The not so good news: Reports by Shop.org and Forrester Research Inc. indicate e-commerce has grown by 20% or more per year, based on U.S. Census Bureau retail e-commerce sales figures. But losses from online payment fraud in the United States and Canada have steadily increased.
An estimated $3.6 billion in online revenues were lost to online fraud in 2007, up from $3.1 billion in 2006.
The charts herein contain further information about online payment fraud trends, merchant practices and benchmarks drawn from CyberSource's Ninth Annual Online Fraud Report, 2008 Edition. Merchants are categorized by size, where applicable.
To download a copy of the report, visit http://www.cybersource.com/promo/FraudReport 2008NA/indexx26.html.
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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