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The US eCommerce market is on a strong growth trajectory. Revenue grew 20% in 2021 to approximately $850 billion. Many of the purchasing trends that emerged at the beginning of the pandemic have become permanent as consumers embraced the ease and convenience of home delivery and curbside or in-store pickups. Frost & Sullivan’s research indicates that the US eCommerce market will increase at a compound annual growth rate of 16% in the 2021-2025 time period.

A surge in online commerce has accelerated merchants’ plans to digitally transform their businesses. However, a digital commerce strategy is bound to fail if not supported by next-generation fraud prevention implementations. A noticeable increase in the number of eCommerce fraud attempts has been reported across different industries, given that card-not-present payments give fraudsters numerous opportunities to steal goods or abuse merchant policies for monetary benefits.

By analyzing various data sources to identify unusual behavior or high-risk transactions through rule- and/or analytics-based methodologies, eCommerce fraud prevention solutions provide the core intelligence essential to helping organizations address fraud and security challenges. Solution providers’ main focus areas are protecting retailers by identifying high-risk transactions and supporting and enabling new service delivery experiences.