The threat occurs when an unauthorized individual performs transactions with stolen payment information, usually by stolen credit card details, identity theft, or chargeback fraud. ![]() Payment fraud is expected to cost online businesses more than $200 billion in 2023. This can include something the user knows (such as a PIN), something the user has (such as a security token), or something the user is (such as a biometric identifier).Īnti-phishing software can also detect and block phishing emails and messages before they reach their intended targets. This includes features as email authentication, training sessions, as well as reminders to never share sensitive information.Īnother effective prevention measure is implementing multi-factor authentication, which requires eCommerce platform users to provide a second verification step beyond just a password. To reduce exposure to phishing attack threats, eCommerce businesses should educate their employees and customers about recognizing and avoiding phishing emails and messages. These attacks aim to obtain sensitive personal information from eCommerce customers and staff, primarily credit card and payment details or usernames and passwords. They are a type of social engineering threat involving emails and messages sent to individuals or customers, that appear to be from a legitimate sender but are, in fact, from cyber criminals. ![]() ![]() Phishing attacks account for 1 in 5 data breaches worldwide. We look at the potential damage which can be caused, and ways companies can safeguard themselves against these threats. This article discusses the key eCommerce security threats facing vendors in 2023. While this means there is significant potential for capital gain there are also many threats online merchants can encounter. In fact, by the end of 2023, there will likely be more than 24 million individual eCommerce sites across the web. This expansion in the eCommerce market is spurred by the rapid adoption of online shopping by customers looking for a more personal shopping experience – something eCommercee is well positioned to deliver. Global eCommerce sales are expected to grow by 10.4% in 2023, with a projected revenue of over $6.51 trillion by the end of the year. Subscription management solution to maximize recurring revenueįull commerce solution built for digital goods salesĪdditional services to boost online sales ![]() Accept mobile and online payments from buyers worldwide
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