Merchant and e-commerce organizations are no strangers to the struggles of fraud protection. Amazon, a recent target, noted that its merchants were hit by "extensive" fraud over six months in 2018. Hackers stole thousands of dollars from hundreds of merchant accounts by redirecting money to their own bank accounts. In addition, knowing that global digital commerce sales are forecast to skyrocket in 2020 and consumers are increasingly turning to mobile to make purchases and online transitions, businesses must consider the unique fraud threats they face on mobile devices.
Why Mobile Fraud Must Be Treated DifferentlyBusinesses often approach mobile fraud prevention with the same tactics, technology, and mindset they use for traditional desktop e-commerce. The transactions that happen on mobile and the nature of the data captured are quite different than those that happen on desktop, which means merchants should consider a different fraud solution for each channel. For example, mobile orders can be purchased in various ways through a consumer's personal mobile device, website, or app. It is important for businesses to see where the transaction is made in order to identify fraudulent activity correctly.
One way they can do this for mobile is by taking a closer look at the consumer's device ID and geolocation, which provides a unique identifier for each individual, such as the type of phone they use, mobile carrier, and even the default language that's set on the phone. For example, if a consumer has never t ..
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