Two-thirds of Merchants Overlook Potential Fraud as the Cause of Failed Payments
The Role of Fraud Screening in Minimizing Failed Payments
Most eCommerce merchants miss a crucial piece of the security puzzle: Just 33% use screening mechanisms that can identify potential fraud as the cause of failed payments. PYMNTS Intelligence’s latest study, “The Role of Fraud Screening in Minimizing Failed Payments,” a collaboration with Nuvei, draws on insights from 300 executives about the efficacy of eCommerce screening mechanisms.
Inside the January Playbook
- 33%: Portion of merchants with a screening mechanism that detects if potential fraud causes failed payments
- 78%: Share of merchants with no PSP collaboration actively seeking innovative solutions to combat friendly fraud and chargeback fraud
- 42%: Portion of merchants that increase the security level and ask the customer to attempt the purchase again after a failed payment
