data strategy, finance, Fintech, Innovation, innovative solutions, Regulation

The Innovation Race With Fraudsters Worldwide

For every innovation in payments and commerce worldwide – faster payments, marketplace-based commerce, self-service retail – there always seems to be a fraudster waiting in the wings. And while the opportunities for innovative advancements are many, the costs of fraud are high and growing. Which is why the new race in the market is applying next-generation fraud-fighting tools faster than the cyberthieves can evolve next-generation solutions to get through them.

Data:

$52 billion: Estimated value of the biometric solutions market by 2023.

5 billion: Number of people worldwide that clients of Trulioo’s Global Gateway can access.

$70M: Amount French startup Mirakl recently raised in a round led by Bain Capital.

12-14 percent: Amount the smart vending space is projected to grow over the next five years.

$3.8M: Average cost of a data breach for firms when consumers’ identities are compromised.

All credits to the source below:

https://www.pymnts.com/today-in-data/2019/payments-commerce-innovation-fraud-prevention/

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