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BizReport : Mobile Marketing : June 29, 2017

Survey: Mobile payments more accepted

Most merchants (70%) are now supporting at least three mobile payment options. That is a key finding in Kount's 2017 Mobile Payments & Fraud Survey. Another is that since the inaugural survey (2013) merchants have doubled their mobile payment options for both digital and in-store purchases.

by Kristina Knight

The bad news is that nearly one-third (28%) of merchants still have trouble identifying where mobile purchases originate, which can leave them open to fraudulent transactions. The report also indicates that just over one-third (37%) believe that as more people adopt mobile wallets, fraud will decrease rather than increase.

"This survey has shown that merchants have made a lot of progress over the years when it comes to their commitment to mobile payments and fraud detection technologies," said Don Bush, VP Marketing, Kount. "However, card-not-present fraud rates will continue to grow alongside rising online and mobile commerce so it's important that merchants not become complacent in their security efforts, but rather research specific tools, like comprehensive fraud platforms, that can best protect their business without any negative impact to the customer experience."

Other interesting findings from the report include:

• 60% of merchants believe 'browser based' mobile fraud is bigger than app-based
• 68% have not made changes to their fraud prevention plans
• 61% identify 'safe' mobile purchases as coming from Apple devices

The full report can be downloaded here.

Tags: ecommerce, Kount, m:commerce, mobile commerce, mobile marketing, mobile payments

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