Credit Card Fraud
There are more than 1.5 billion credit and debit cards in circulation worldwide, accounting for more than $6 trillion in annual consumption. It's difficult to envision the modern marketplace without the convenience and flexibility that credit cards provide. Yet, they are also the Achilles heel of the payment card industry, having become the target of frequent deceptions and acts of fraud, resulting in several billions of dollars in losses
Payment card fraud takes its toll primarily on credit card issuers, and despite the deployment of solutions for preventing these frauds, there are still staggering losses annually that have been increasing each year.
Experience has shown that there isn't one method or system that can counter the many facets of credit card fraud. Card issuers are engaged in a constant battle against sophisticated schemes aimed at compromising transaction processing procedures. The only way to keep up with the ever-evolving threat is to adopt new and innovative solutions.
That's where mConfirm comes into play. Our solutions can offer a true advantage to credit card issuers' risk management campaign in reducing fraud-related losses and false alert rates