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Study: One In 10 Merchants Accepted mPayments In 2013

About 10 percent of all merchants accepted mobile payments last year.

This represented a jump of 50 percent compared to 2012 levels, a new report from LexisNexis showed. An additional 25 percent of merchants expect to integrate mPayments into their existing systems in 2014.

“Mobile-payment options and point-of-sale hardware are providing more business opportunities for small merchants,” Dennis Becker, LexisNexis vice president of corporate markets and identity management solutions, said in a statement. “Despite the surge in retailers using mobile payments to conduct business, we’ve found in our study the unfortunate correlation between the size of the business and the impact of mobile fraud on their business.”

Fraud for credit card users is relatively high compared with debit card fraud rates, and mobile merchants face an increased risk of identity theft, the study found.

Learn more about the LexisNexis study by reading the full press release here.

About 10 percent of all merchants accepted mobile payments last year.

This represented a jump of 50 percent compared to 2012 levels, a new report from LexisNexis showed. An additional 25 percent of merchants expect to integrate mPayments into their existing systems in 2014.

“Mobile-payment options and point-of-sale hardware are providing more business opportunities for small merchants,” Dennis Becker, LexisNexis vice president of corporate markets and identity management solutions, said in a statement. “Despite the surge in retailers using mobile payments to conduct business, we’ve found in our study the unfortunate correlation between the size of the business and the impact of mobile fraud on their business.”

Fraud for credit card users is relatively high compared with debit card fraud rates, and mobile merchants face an increased risk of identity theft, the study found.

Learn more about the LexisNexis study by reading the full press release here.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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