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Cards On File Cut eCommerce Friction

Cards On File Cut eCommerce Friction

Storing a card on file is an integral part of the shopping experience for many consumers, as eCommerce continues to explode across the retail landscape. Late last month, SentiLink, which uses technology to detect and prevent synthetic fraud, raised $14 million in a Series A round earmarked for a number of initiatives. Trust continues to be a key reason consumers choose one bank over another, and the subscription box market in the U.K. is projected to soon have a billion-dollar value.

Data:

80.6 percent: Share of credit union customers in a recent survey who identified trust as a reason to remain with their institutions.

44 percent: Share of consumers who have cards on file with three to five merchants.

37 percent: Share of consumers who are very or extremely interested in card-on-file (CoF) security solutions.

$14 million: Amount in Series A funding SentiLink said it had garnered as of last month.

£1b: Projected value of the U.K. subscription box market by 2022.

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