Ecommerce Merchants Make Gains In Fighting Payment Fraud

In today’s rapidly changing payments landscape, staying on top of the latest digital payment options is necessary for B2B ecommerce sellers to deliver a better customer experience and reach new buyers.

So, too, is staying abreast of fraud trends. While B2B fraud does not receive as much media exposure as consumer-related fraud, it is a prevalent and growing problem nonetheless that sellers need to manage effectively.

A new report from The Merchant Risk Council, Cybersource and Verifi, 2023 Global Ecommerce Payments & Fraud Report, notes that North American merchants spend 10% of their ecommerce revenue on average to manage payment fraud. The report also says the percentage of ecommerce revenue lost to payment fraud is 2.4% in North America and 2.9% globally, down from 3.6% a year ago for both North America and worldwide.