Digital Commerce and the Threat of Card-not-present Fraud
DECEMBER 19, 2017
A notable risk of these challenges: card-not-present fraud. Card-not-present (CNP) transactions are when the consumer does not or cannot present their physical card to the merchant at the point-of-sale. This upward trend has been present since at least 2008, when the Census Bureau reported that ecommerce sales accounted for about 3.5% 6 “Card-Not-Present Fraud Losses to Exceed $7 Billion by 2020,” Aite Group, May 2016.