Mobile-Accepting Merchants Register Mixed Results in Risk Detection, Survey Reports
With much of the payments business focused on mobile payments, merchants are making progress in dealing with the payment method but are still lagging in key areas, such as the ability to identify overseas transactions, according to survey results released Thursday.
Risk-detection, in particular, is an area where results are mixed. Five years ago, more than 55% of merchants accepting mobile payments could not tell whether a given transaction originated from a mobile device. That number is now down to 14%, according to the survey, sponsored by Kount Inc., a Boise, Idaho-based risk-management firm. On the other hand, fully 28% of mobile-accepting merchants can’t tell whether a mobile transaction came from an overseas user.
The survey, conducted online between April and June, canvassed more than 800 merchants in some 29 industries. The merchants ranged from less than $5 million to more than $500 million in revenue. Other backers of the “2017 Mobile Payments & Fraud Survey” are CardNotPresent.com, Braintree, a unit of PayPal Holdings Inc., and The Fraud Practice Inc.
All told, 44% of the merchants surveyed now support a mobile app for online shopping, up from 21% when the study was first conducted in 2013, while those accepting mobile payments at the point of sale has gone from 15% to 29%.
When it comes to what the merchants see as a “safe” mobile-payment technology, the top brand by far is Apple, at 61%. Distant followers are Android and Blackberry, at 3.7% each, and Windows, at 1.4%. “No brand” registers 30%.
Source: Digital Transactions