For today’s merchants, fraud prevention is a top priority. At J.P. Morgan, our focus is on minimizing hurdles businesses face when protecting their e-commerce transactions against bad actors. With that in mind, we’re advancing our investment in Commerce Solutions to help ensure merchants find everything payments-related in one unified platform. As part of this initiative, we're investing in a new Optimization and Protection solution: Fraud Intelligence1. It’s quick to activate and easy to use, requiring no additional integration to get started.
“Fraud detection and prevention is hard and time consuming,” said Ryan Schmiedl, Managing Director of Trust & Safety Solutions at J.P. Morgan. “We’re focused on delivering the easy-to-use protection our clients need, with the reputation and reliability they can trust.”
Ryan Schmiedl,
Managing Director of Trust & Safety Solutions at J.P. Morgan
The importance of fraud prevention
As e-commerce shopping experiences extend across channels, including mobile apps and social media, merchants continue to see escalating fraud attempts on their businesses. U.S. card-not-present (CNP) fraud losses from online transactions will grow from $9 billion in 2023 to nearly $13 billion in 2026, according to estimates from Datos Insights2. As bad actors grow increasingly sophisticated, they will find new ways to infiltrate and attack e-commerce portals, which can impact merchants’ bottom lines through increased chargebacks, refunds, fees and regulatory fines.
That’s why it’s key for retailers to find the right partner to help them protect online shoppers’ information, help maintain business credibility and optimize authorization rates to safeguard their revenue.
Fraud prevention from J.P. Morgan Payments
References
Future capabilities of Fraud Intelligence are under development; features and timelines are subject to change at the Bank’s sole discretion.
Mattei, D., & Conroy, J. (2023, November 9). CNP Fraud and the Role of 3-D Secure: The Tale of Different Countries. Datos Insights. https://datos-insights.com/reports/cnp-fraud-and-the-role-of-3-d-secure-the-tale-of-different-countries/
