With the New Decade Comes New Threats for the eCommerce Space
Monica Eaton-Cardone, a leading expert in payments and eCommerce fraud mitigation, sat down with AiThority to offer her insight on what the next decade has in store for merchants.
AiThority is a digital publication dedicated to covering AI and futuristic technologies. The site is a resource on the future of technology, keeping readers up-to-date with the changing universe of intuitive technologies through news and interviews with industry leaders.
As noted in the piece, eCommerce sales are projected to reach $6.54 trillion globally by 2022. With more sales comes more risk, though. As Monica points out, “…merchants need to pay equal attention to safeguard themselves from the backlash of fraud, an impact that, ultimately diminishes returns and significantly increases friction for everyone involved.”
The future is uncertain; however, Monica provided a number of predictions for future eCommerce. Open banking fraud, abuse of the BOPUS sales model, surging subscriptions, and much more are just around the corner. In response, our fraud detection capabilities must evolve as well.
“[My prediction is that] the industry will see more internally-built transaction scoring solutions and LESS reliance on ‘industry’ security-checking mechanisms. Innovation in post-transaction analysis will keep retail eCommerce expanding to meet consumer growth and propel the economy.”