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Online Payment Fraud: Market Forecasts, Emerging Threats & Segment Analysis 2023-2028: Full Research Suite

Publisher Juniper Research
Published Jun 26, 2023
Length 141 Pages
SKU # JNRH19878056

Description

Our Online Payment Fraud research report provides a detailed evaluation of the market, including different fraud types, the impact of the increase in alternative payment types, the future challenges within Open Banking APIs, and differing types of fraud in a variety of segments including banking, remote digital and physical goods and airlines. In addition, this report covers market opportunities; providing strategic insights into the development of new technologies, such as AI and machine learning, and key steps that are important for both vendors and merchants to take to manage increasing fraud risks.

The report also positions 21 online payment fraud detection and prevention vendors in our Juniper Research Competitor Leaderboard; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.
The research suite also contains a detailed dataset; providing forecasts for 60 countries across a wide range of different metrics, including fraud value for remote digital and physical goods purchases and online transactions, money transfer fraud rate and digital banking fraud rate, the splits for fraud rate by vertical, as well as including the split for mobile and online transactions.

Key Features
Market Dynamics: A strategic analysis of the major drivers, challenges, and innovations shaping the adoption and development of fraud detection and prevention solutions:
COVID-19 pandemic’s impact on the online payment fraud market and the ongoing influence from it.
Future strategic direction and market outlook for fraud detection and prevention vendors.
Key drivers for fraud detection and prevention vendors, including an increase in data provided from merchants, the implementation of AI and ML and their impact on fraud detection and prevention, and the growing needs of SMEs to access sophisticated fraud prevention systems.
Segment Analysis: A segment analysis of banking and money transfer, remote physical and digital goods and airlines, looking into key challenges, key trends and future outlook. This gives readers insight into the markets with a growing need for improvement within fraud detection and prevention.
Benchmark Industry Forecasts: Includes forecasts for the total fraudulent transaction value for airline eTicketing, remote digital goods, remote physical goods, money transfer and digital banking, as well as the total spend on fraud detection and prevention. This data is split by online and mobile transactions, and for our 8 key forecast regions and 60 countries:
North America:
Canada, US.
Latin America:
Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay.
West Europe:
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK.
Central & East Europe:
Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine.
Far East & China:
China, Hong Kong, Japan, South Korea.
Indian Subcontinent:
Bangladesh, India, Nepal, Pakistan.
Rest of Asia Pacific:
Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam.
Africa & Middle East:
Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates.
Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 21 online payment fraud detection and prevention vendors:
Accertify
ACI Worldwide
Experian
Featurespace
Feedzai
FICO
Fiserv
Fraudio
GBG
Kount
LexisNexis
Microsoft
NuData Security
Riskified
RSA Security
SAS
Signifyd
TransUnion
Vesta
Visa
Worldpay

Please note: the online download version of this report is for a global site license.

Table of Contents

141 Pages
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
1. Juniper Research Competitor Leaderboard
1.1 Why Read This Report
Table 1.1: Juniper Research Competitor Leaderboard Vendors: Online Payment Fraud
Figure 1.2: Juniper Research Competitor Leaderboard – Online Payment Fraud
Table 1.3: Juniper Research Competitor Leaderboard: Online Payment Fraud Vendor Ranking
Table 1.4: Juniper Research Competitor Leaderboard Online Payment Fraud – Heatmap
Table 1.5: Juniper Research Competitor Leaderboard Online Payment Fraud – Heatmap – Continued
2. Company Profiles
2.1 Online Payment Fraud Vendor Profiles
2.1.1 Accertify
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.2 ACI Worldwide
i. Corporate
Table 2.1: ACI Worldwide’s Revenue ($bn), 2016-
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-Level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.3 Experian
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.4 Featurespace
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.5 Feeedzai
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
i. High-level View of Offering
ii. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.6 FICO
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.7 Fiserv
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.8 Fraudio
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offerings
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.9 GBG
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.10 Kount
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.11 LexisNexis Risk Solutions
i. Corporate
ii. Geographic Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.12 Microsoft
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.13 NuData Security
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.14 Riskified
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.15 RSA Security
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.16 SAS
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.17 Signifyd
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
Figure 2.2: Visualisation Displaying Signifyd’s Commerce Protection Platform
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.18 TransUnion
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.19 Vesta
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
Figure 2.3: Visualisation Displaying Vestas Payment Guarantee
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.20 Visa Acceptance Solutions
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.1.21 Worldpay
i. Corporate
ii. Geographical Spread
iii. Key Clients & Strategic Partnerships
iv. High-level View of Offering
v. Juniper Research’s View: Key Strengths & Strategic Opportunities
2.2 Juniper Research Leaderboard Assessment Methodology
2.2.1 Limitations & Interpretations
Table 2.4: Juniper Research Competitor Leaderboard Scoring Criteria
1. Market Overview
1.1 Introduction
1.2 Types of Fraud
1.2.1 First-party Fraud
i. Fronting
ii. Address Fronting
iii. Friendly Fraud
iv. Chargeback Fraud
1.2.2 Third-party Fraud
i. Identity Fraud and KYC (Know Your Customer) Synthetic Identity
ii. Account Takeover
iii. Silent Fraud
1.2.3 Phishing
i. Phishing
ii. Whaling
iii. Pharming
1.2.4 Other Types of Fraud
i. Clean Fraud
ii. Affiliate Fraud
iii. Re-shipping
iv. Botnets
v. Triangulation
vi. Pagejacking
1.3 Introduction
1.4 Methodology & Assumptions
Figure 1.1: FDP Forecast Methodology
1.5 Forecast Summary
1.5.1 CNP Fraud
Figure & Table 1.2: Total CNP Fraud Value ($m), Remote Goods Purchases, Airline Tickets, Split by Goods Type 2023-
1.5.2 Total Value of Fraudulent Transactions
Figure 1.3: Total Value of Fraudulent Transactions ($m), Split by eCommerce Segment, 2023-
2. Airline eTicketing Fraud: Market Forecasts
2.1 Airline eTicketing Fraud Transaction Value
Figure & Table 2.1: Total Airline eTicket Fraudulent Value ($m), Split by 8 Key Regions, 2023-
2.2 Airline eTicketing Fraud: Online VS Mobile
Figure & Table 2.2: Total Airline eTicket Fraudulent Value ($m), Split by Sales Channel, 2023-
2.3 Airline eTicketing Fraud Rates
Figure & Table 2.3: Total Airline eTicketing Fraud Rate by Value (%), Split by 8 Key Regions, 2023-
3. Remote Digital Goods Purchases Fraud: Market Forecasts
3.1 Remote Digital Goods Fraud Transaction Value
Figure 3.1: Total Remote Digital Goods Fraudulent Value ($m), Split by 8 Key Regions, 2023-
3.2 Remote Digital Goods Fraud: Online vs Mobile
Figure & Table 3.2: Total Remote Digital Goods Fraudulent Value ($m), Split by Sales Channel, 2023-
3.3 Remote Digital Goods Fraud Rates
Figure & Table 3.3: Total Remote Digital Goods Fraud Rates by Value (%), Split by 8 Key Regions, 2023-
4. Remote Physical Goods Purchases Fraud: Market Forecasts
4.1 Remote Physical Fraud Transaction Value
Figure & Table 4.1: Total Remote Physical Goods Fraudulent Value ($m), Split by 8 Key Regions, 2023
4.2 Remote Physical Goods Fraud Online vs Mobile
Figure & Table 4.2: Total Remote Physical Goods Fraudulent Value ($m), Split by Sales Channel, 2023
4.3 Remote Physical Fraud Rates
Figure & Table 4.3: Total Remote Physical Goods Fraud Rate by Value (%), Split by 8 Key Regions, 2023-
5. Money Transfer Fraud: Market Forecasts
5.1 Money Transfer Fraud Transaction Value
Figure & Table 5.1: Total Money Transfer Value ($m), Split by 8 Regions, 2023-
5.1.1 Money Transfer Fraud: Online vs Mobile
Figure & Table 5.2: Total Money Transfer Fraudulent Value ($m), Split by Sales Channel, 2023-
5.2 Money Transfer Fraud Rates
Figure & Table 5.3: Total Money Transfer Fraud Rate by Value (%), Split by 8 Key Regions, 2023-
6. Digital Banking Fraud: Market Forecasts
6.1 Digital Banking Fraud Transaction Value
Figure & Table 6.1: Total Digital Banking Fraudulent Value ($m), Split by 8 Key Regions, 2023-
6.2 Digital Banking Fraud: Online vs Mobile
Figure & Table 6.2: Total Digital Banking Transaction Value ($m), Split by Sales Channel, 2023-
6.3 Digital Banking Fraud Rates
Figure & Table 6.3: Total Digital Banking Fraud Rate by Value (%), Split by 8 Key Regions, 2023-
7. Fraud Detection and Prevention Solutions
7.1 Fraud Detection and Prevention Solutions Market Size
Figure & Table 7.1: Total Annual FDP Spend ($m), Split by 8 Key Regions 2023-

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