Staying Ahead of Fraud with PayPal Fraud Protection Advanced
Today's consumer expectations center on trust, ease of experience, and respect. In this age of data breaches that are increasing in frequency and impact, customers are choosing to do business with merchants they trust. Having a solid brand reputation for putting security first has never been more critical. Additionally, consumers are expecting easy, quick online experiences - whether on a website or in-app - and are abandoning shopping carts for competitors when faced with an inordinate amount of friction. Customer insult may lead to cart abandonment - applying blanket fraud solutions that treat customers and fraudsters alike and create friction-filled experiences for all will turn customers away from your platform.
Staying ahead of increasingly sophisticated and complex fraud schemes is key for merchants to be able to deliver on today's consumer expectations but making the move to a digital-first model must happen first. As the global shift towards online experiences continues, merchants must remain competitive by implementing fraud solutions tailored to this evolving digital landscape.
1 Global increase in cyber fraud risk since the coronavirus outbreak, Statista, August 2020.
2 Fraud detection and prevention market worldwide 2016-2022, Statista, November 2020.
3 PayPal Q4 and FY 2020 Operating Highlights.
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