“Mobile commerce transactions accounted for only 14 percent of the total transaction volume, but for 21 percent of the fraudulent transactions in 2014, according to a new report, 2014 LexisNexis True Cost of Fraud mCommerce from LexisNexis Risk Solutions and Javelin Strategy & Research.
The two companies discussed their findings in a recent webinar. Their survey of 1,200 U.S.-based merchants is the largest of its kind, according to Jim Van Dyke, CEO of Javelin Strategy & Research.
Statistics account for some of the difference in the percentage of fraud in mobile transactions, said Aaron Press, director of ecommerce and payment for LexisNexis. Since there are fewer mobile transactions than online transactions, one fraud incident will account for a higher percentage of the total. But even taking that into consideration, the higher incidence of fraud in mobile transactions is statistically significant, Press said.”
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