{"id":4741,"date":"2012-01-26T15:03:00","date_gmt":"2012-01-26T15:03:00","guid":{"rendered":"https:\/\/evssolutions.com\/fraud-prevention-war-the-battle-between-ease-and-security\/"},"modified":"2012-01-26T15:03:00","modified_gmt":"2012-01-26T15:03:00","slug":"fraud-prevention-war-the-battle-between-ease-and-security","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/fraud-prevention-war-the-battle-between-ease-and-security\/","title":{"rendered":"Fraud Prevention War: The Battle Between Ease and Security"},"content":{"rendered":"

New technology is designed to make our lives as consumers
\neasier and more accessible. With the development of Smartphones, mobile tablets,
\nmobile apps, and cloud networks, consumers can take care of all their personal
\nneeds on one device. Greater functionality does not come for free though.
\nConsumers put their personal information at serious risk when using different
\ntechnologies. Mobile banking and online transactions have posed two of the
\nbiggest threats to ID theft<\/a>. Twenty-three out the top 25 ranked banks in the US are offering some
\nsort of mobile banking service and nearly 90% people make purchases or financial
\ntransactions online. Yet, 65% of these consumers believe that fraud<\/a> is more likely to happen online than in person. This is the
\nfoundation of the fraud prevention<\/a> war. The battle between consumer convenience and security<\/a>
\nsometimes poses a conflict of interest, making it very hard to find the right
\nbalance.<\/p>\n

Online merchants have the worst end of this battle because
\nthe trade off is much more significant. When consumers use mobile banking, security
\nis one of the major factors that they consider going into it. Banks are not
\nfacing the same fraud prevention<\/a> issues that online stores are. Nearly half of the consumers
\nusing a tablet or Smartphone for a transaction have experienced a transaction
\ndelay due to a secondary ID verification<\/a> process that takes too long. This delay can cause consumer
\nfrustration that leads to termination of the purchase or going to a
\ncompetitors site instead. Online stores that fear this change in buying
\nbehavior may be tempted to remove their ID verification<\/a> process to keep consumers happy.<\/p>\n

Some online commerce sites are still using manual reviewing
\nprocesses on transactions that seem suspicious. This strategy sends the user to
\nanother page to verify their identity, thus making the consumer frustrated.
\nSites need to integrate their ID verification<\/a>
\nand authentication system into their shopping platform so consumers are not
\nredirected. In the end, preventing fraud and consumer security will win the war
\non fraud even though it may not win every battle. By using a third party ID
\nverification company like EVS<\/a>,
\ncompanies will be able to integrate their fraud prevention measures<\/a> right into their site and avoid lose transactions.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

New technology is designed to make our lives as consumers easier and more accessible. With the development of Smartphones, mobile tablets, mobile apps, and cloud networks, consumers can take care of all their personal needs on one device. Greater functionality<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[35,37],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4741"}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4741"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4741\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}