Analysts are already predicting that early 2022 will be the season for chargebacks. Sift’s newest report, “Q4 2021 DIgital Trust & Safety Index: Navigating The New Normal Of Digital Fraud And Disputes”, found that the “average daily chargeback cases” (those actually filed), went up by 19% between Q1 2020 and Q1 2021. Typically, where the consumers shop, fraudsters follow. Profits...
The CBD industry is booming. So much so, that the market is expected to hit $16 billion by the year 2025 in the US alone. According to the Brightfield Group, a survey of 5,000 people revealed that over 60% of CBD users have taken it to ease their anxiety. This was closely followed by chronic pain, insomnia, and depression. What...
In a recent study, businesses across industries shared their thoughts on the spike in chargebacks since March 2020. Nearly 60% of respondents revealed that, since the onset of the COVID-19 pandemic, their chargeback rates have increased significantly. Another 45% believe that delivery delays are to blame. Since the start of the pandemic, consumers have been forced to stay in their...
As a bank customer, it is difficult to fully understand how the everyday transactions we have come to depend on can move so rapidly and affordably. Most of us don’t even seem to think twice about what really goes on behind the scenes within the financial system. What does happen behind the scenes is that billions of dollars move stealthily...
On August 1, 2021, Square broke the news that it was purchasing Afterpay, an Australian fintech company for $29 billion in stocks. Square’s CEO, Jack Dorsey, said: “Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles. Together,...
According to Digital Commerce 360, consumers spent $791.70 billion online with U.S. merchants back in 2020. This was a staggering increase of 32.4% based on the U.S. Department of Commerce numbers. This is the highest growth that U.S. e-Commerce has seen in the last twenty years. It was more than double the 15.1% hike in 2019. The COVID-19 related surge...
Cryptocurrency has been lauded for its many innovative benefits: its confidentiality, security, and flexibility. Unfortunately, things may have taken a turn for the worse as this digital currency faced one of its biggest challenges. A total of $300 million was embezzled from cryptocurrency accounts in 2020. Most of these scams were made up of phone number hijacking, fake crypto exchanges,...
Cart abandonment is a serious problem for online retailers. There are literally hundreds of studies surrounding cart abandonment and its statistics. Some have reported that cart abandonment was as high as 80% while others have reported being as low as 55%. Barilliance conducted a study and found that the average cart abandonment rate to be 77.24% in 2016 and it...
The mobility industry is undergoing rapid, evolutionary change with the rise of digital technology. What is driving this innovation is a host of factors, including: changes in social attitudes, rapid advances in technology, advances in engineering which have led to energy-efficient modes of transportation, as well as artificial intelligence, which are leading the way to “smarter travel.” The pandemic outbreak...
Contactless payments have surged since the outbreak of the COVID-19 pandemic. Companies worldwide have struggled to pivot their operations to accommodate the new mandates of social distancing and limiting as much contact as possible between customers and employees. Some organizations have explored the use of the ever-ubiquitous smartphone to convert it into a powerful payment processing unit. Instead of using...
