EMV Chips On Debit And Credit Cards Have Pushed Fraud To E-Commerce

13. December 2017.

Radial saw a spike in fraud from July on which didn’t make sense until it learned about the Equifax breach. Radial saw a 300% to 600% increase in e-commerce fraud correlated with the Equifax breach.

“A lot of merchants are scared of transactions that have an international aspect,” Graff said. “If you have a billing address in one part of New York City and are shipping to a different city address and the IP address is coming from Germany and your credit card is from the UK and the purchase is over $5,000 it may get a fraud investigator to look at it personally.”

The key indicators they (merchants) should look at are: what is your approval rating, how many transactions do you decline due to fraud, who is liable for fraud the system does let through and how what percentage of orders are held for review.

Visa/Cybersource has said that a 97.5% approval rate is a good benchmark for the e-commerce industry. Radial’s approval rate can be above 99.5%, said Graff, depending on the vertical, client risk and other factors.

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