Consumer Identity Management Helps Prevent Card Not Present Fraud
By the end of 2017, EMV adoption is expected to reach 99 percent, but fraudulent online transactions are expected to reach $25.6 billion.*
EMV chip card payment technology emerged in the 1990s and quickly caught on in Europe before being implemented across most retail outlets by the end of 2017. While EMV has effectively decreased card present fraud, the chip cannot ensure valid identities during a card not present (CNP) transaction resulting in an increase in new account fraud and fraudulent online transactions.
As fraudsters and hackers accumulate more digital tools to access personally identifiable information, comprehensive Consumer Identity Management offers an effective defense mechanism.
View our recent infographic for insight on:
- The effects of CNP fraud on businesses today and in the future
- Trending options merchants are using to protect themselves from CNP fraud
- The value of a consumer identity management solution and how it should be the first line of fraud defense to identify and flag fraudulent transactions in real-time