The pandemic fueled a dramatic shift to e-commerce that no one saw coming. By the end of 2020, online shopping in the U.S. had increased by a whopping 44%, with online sales now accounting for 21.3% of total retail sales.
In this new world of e-commerce, there’s no dispute that manual identity reviews alone can’t keep up with the growing volume of online transactions—nor can it keep up with the increasing sophistication of fraudsters attempting to fool retailers. The potential losses due to fraud can be significant, not only in dollars but in terms of customer loyalty and brand reputation. Read this playbook to learn why you need automated identity verification to prevent fraud and how to create a strategy that maximizes protection and minimizes loss, including:
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