Boise, Idaho -- While the mobile channel continues to grow in importance for retailers, do does their fear of fraudulent attacks and the realization that combating the risk requires specialized tools. Those are some of the findings from the 2nd Annual Mobile Payments and Fraud Survey.
The study, conducted By Kount, The Fraud Practice LLC and CardNotPresent.com, surveyed more than 1,000 merchants around the globe as well as service providers, card associations and issuers. Notable findings from the study include:
- The mobile channel accounts for 20% of their business, double that of last year.
- Sixty-six percent of the surveyed merchants actively support mobile, up by 30% from last year.
- Thirty-two percent of respondents see mobile as riskier than standard e-commerce, up from 24% last year.
- Thirty-two percent say fraud prevention specific to mobile is increasingly necessary, nearly double the findings of last year's response.
- Merchants that offer a mobile app for online shopping more than doubled from 21% to 54%, while nearly half of merchants now offer a dedicated mobile website.
"Clearly mobile commerce is a source of tremendous opportunity for online retailers and their focus on this channel has grown considerably each year," said Don Bush, VP of marketing, Kount. "Merchants also realize that fraud follows opportunity and there may be no greater opportunity for fraud today than in mobile. Protecting and growing your business requires a fraud solution that integrates with all mobile platforms without any impact to the customer experience or your business."