CyberSource Survey Shows Merchants Lost $3.4B to Fraud

What's Next In Payments®
4:14 PM EDT February 29th, 2012

Fraudsters took a roughly 1-percent-sized piece of the eCommerce pie in 2011, stealing $3.4 billion from online merchants. It’s all the more reason to listen to Karen Webster’s conversation with Andrew Naumann, Senior Business Leader at CyberSource, about the newest edition of his company’s guide to benchmarks and best practices in the fight against fraud.

   

Related Article: CyberSource 2012 Online Fraud Report


Andrew Naumann, CyberSource:

Andrew Naumann is Director of Enterprise Fraud Solutions at CyberSource.

Founded in 1994, CyberSource began developing online payment and fraud detection technology long before the eCommerce industry took off. In fact, the company pioneered online fraud screening as well as the concept of an internet commerce suite — this allowed companies to outsource eCommerce transaction services as and when required, precluding the need to build and maintain costly and complex infrastructures.

Today, through continued innovation and investment, CyberSource now offers a comprehensive set of high performance payment management solutions for multiple sales channels, including the web and call centres. With a customer list that includes lastminute.com, British Airways and Nike, the company enables its merchants to sell online in over 190 markets worldwide, helping them to protect, optimise and grow their operations.

In 2010 CyberSource Corporation was acquired by, and operates as a wholly-owned subsidiary of, Visa Inc.


Comments
Also by This Author
What's Hot
Mobile Commerce
Levi’s Appoints Walmart exec Marc Rosen as eCommerce Boss
News
Michael’s Data Breach More Wide Ranging Than Initially Thought
Alternative Financial Services
Lending Club Announces New Funding and Acquisition
Mobile Commerce
Sprig Springs Into The Food Delivery War, With A Plan
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Breach Round Up
The Heartbleed Bug Effects More Than Just Software…
Mobile Commerce
Levi’s Appoints Walmart exec Marc Rosen as eCommerce Boss
B2B Payments
Why Mark Cuban Invested in e-Procurement
News
Michael’s Data Breach More Wide Ranging Than Initially Thought
View All Articles ››