The Inverted Approach To Tackling Fraud

Banks, financial institutions (FIs) and other firms are grappling with a flood of application fraud and identity theft. In other news, customers see self-service kiosks and online ordering as important features to a quick-service restaurant’s (QSR’s) success. And Rapyd, which is focused on the integration of far-flung financial services through application programming interfaces (APIs), recently announced a financing round. All this, Today In Data.

Data:

83.6 percent: Share of QSR customers who see online/app ordering as key to a QSR’s future success.

73.9 percent: Share of QSR customers who see self-service kiosks as key to a QSR’s future success.

$40 million: Amount of Rapyd’s recently announced financing round, led by General Catalyst and Stripe.

10 percent: Share of sales that retailers are projected to lose to card-not-present (CNP) fraud between 2018 and 2023.

$1.1 billion: Amount of projected synthetic credit card fraud losses in 2019.