Juniper Research’s new report examines the Online Payment Fraud market landscape in detail; assessing current trends and factors shaping the market, such as increasing frictionless payments, the growth in SMEs requiring robust fraud prevention systems, and the use of AI and machine learning. The report delivers comprehensive analysis of the strategic opportunities for fraud detection and prevention providers within various markets; addressing key verticals and developing challenges, and how stakeholders should navigate these.
The research includes:
Key takeaways & strategic recommendations for stakeholders, including fraud detection and prevention providers, eCommerce merchants, and governments.
In-depth analysis of the online payment fraud market landscape.
Examination of key regulatory changes shaping the future of fraud detection and prevention solutions, as well as the effect of future operations.
Please note: the online download version of this report is for a global site license.
- 1. Key Takeaways and Strategic Recommendations
- 1.1 Key Takeaways
- 1.2 Strategic Recommendations
- 2. Market Landscape
- 2.1 Introduction
- 2.2 Types of Fraud
- 2.2.1 First-party Fraud
- i. Fronting
- ii. Address Fronting
- iii. Friendly Fraud
- iv. Chargeback Fraud
- 2.2.2 Third-party Fraud
- i. Identity Fraud and KYC (Synthetic Identity)
- ii. Account Takeover
- iii. Silent Fraud
- 2.2.3 Phishing
- i. Phishing
- ii. Whaling
- iii. Pharming
- 2.2.4 Other Types of Fraud
- i. Clean Fraud
- ii. Affiliate Fraud
- iii. Re-shipping
- iv. Botnets
- v. Triangulation
- vi. Pagejacking
- 2.3 Physical and Digital Goods
- Figure 2.1: Total Value of Fraudulent Transactions, Split by Segment, Global 2023-
- 2.3.1 Remote Physical Goods
- Figure 2.2: Graph Showing Total Remote Physical Goods Fraud ($m), Split by 8 Key Regions, 2023
- 2.3.2 Remote Digital Goods
- Figure 2.3: Graph Showing Total Remote Digital Goods Fraud ($m), Split by 8 Key Regions, 2023
- 2.4 Key Trends in Digital Fraud
- 2.5 Alternative Payment Methods
- 2.5.1 Payments: Changing Dynamics & Expanding Ecosystem
- 2.5.2 Online Banking
- i. Online Banking Fraud
- ii. Online Banking Fraud Prevention Solutions
- 2.5.3 BNPL
- i. BNPL Fraud
- ii. BNPL Fraud Prevention Solutions
- 2.5.4 CBDCs
- i. CBDC Fraud
- ii. CBDC Fraud Prevention
- 2.5.5 Cryptocurrencies
- i. Cryptocurrency Fraud
- ii. Cryptocurrency Fraud Prevention
- 3. Market Dynamics
- 3.1 Introduction
- 3.2 Future Challenges and Open APIs
- 3.2.1 Open Banking APIs
- 3.2.2 The API in the Machine
- 3.2.3 FAPI (Financial-grade API)
- 3.2.4 Open Banking, CIBA (Client-initiated Back Channel Authorisation) and Premium APIs
- 3.2.5 PSD2 Overview
- 3.2.6 PSD2 State of the Nations
- Figure 3.1: Ravelin 3D S2 Statistics
- 3.2.7 RTS (Regulatory Technical Standards) Implications for Payment Service Providers
- i. Fraud Detection
- ii. Merger of Home Working, Personal Devices and Corporate Access
- iii. Exemptions from SCA
- iv. Implications
- v. Regulation Differences
- 3.3 The Fintech in the Equation
- 3.3.1 Establishing Resilient Fintech Products
- Figure 3.2: Visualisation Displaying the 10 Step Framework Process for Establishing Resilient Fintech Products
- 3.4 Consumer Behaviour and Bots, a Wealth of Opportunities for Fraudsters
- 3.4.1 Type of API Attacks
- i. Unauthorised API Requests
- ii. Unauthorised Modification of Request Or Token Responses
- iii. Unauthorised Token Use
- iv. Exposure and Modification of API Response Data
- 3.4.2 API Authentication Security
- 3.4.3 Avoiding Logic Abuse
- 3.5 Real-time Payments
- Table 3.3: Global Instant Payments Market Status
- 3.6 Fraud and Payments
- 3.7 Digital Identity & Fraud
- 3.7.1 Decentralised Identity Wallets
- Figure 3.4: Visualisation of Decentralised Identity Wallets
- i. Benefits of Decentralised Identity Wallets
- 3.8 3D S 2.0 & Biometric Authorisation of Transactions
- 3.8.1 Authentication Mechanisms
- i. OTP (One-time Passwords)
- ii. Biometrics
- iii. SIM Swap Fraud
- 3.8.2 Further 3D S Implications
- i. 3D Secure Authentication Failure
- 3.8.3 Next Steps & Regional Outlook
- 4. Segment Analysis
- 4.1 Introduction
- 4.2 Banking and Money Transfer
- 4.2.1 Key Challenge: Advanced Persistent Threats
- Table 4.1: Phases of Threats
- 4.2.2 Key Challenge: Open Banking & Multi-part Attacks
- 4.2.3 Key Trends & Outlook in the Financial Sector
- 4.3 Remote Physical and Digital Goods
- 4.3.1 Physical Goods
- Table 4.2: Revenue & Growth of Selected eCommerce Players
- i. Impact of COVID-
- ii. Impact of Inflation and Cost of Living Crisis
- Figure 4.3: Total Transaction Volume Physical Goods (m), Split by 8 Key Regions, 2022
- 4.3.2 Digital Goods
- i. Impact of Inflation and Cost of Living Crisis
- ii. Gaming
- iii. Music
- iv. Video
- Figure 4.4: Share of Netflix Subscribers Worldwide,
- v. eBooks
- vi. Adult Content
- vii. Ticketing
- 4.3.3 Key Challenge: Synthetic Identity
- i. Detection
- ii. Activity History
- 4.3.4 Key Challenge: Deepfakes
- 4.3.5 Account Takeover
- Figure 4.5: Visualisations Displaying Process of ATO (Account Takeover)
- 4.3.6 Omnichannel Fraud
- 4.3.7 Key Trends & Outlook in eRetail
- 4.3.8 Machine Learning
- Figure 4.6: Goal Revenue Optimisation Fraud Management
- 4.4 Airlines
- 4.4.1 Key Challenge: Security
- 4.4.2 Key Challenge: Third-party Attacks
- 4.4.3 Key Challenge: Chargebacks
- 4.4.4 Key Trends & Future Outlook in the Airline Sector
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