In recent years, the fraud protection industry has exploded with a surge in companies launching fraud tools based on various concepts. Not fully understanding the fraud protection industry, merchants can be confused by the true costs and benefits of the various fraud tools that are accessible or marketed in their specific region. After selecting a fraud protection solution, businesses can spend an enormous amount of time, effort, and money to integrate the risk management tool, thus producing a high exit cost. Therefore merchants also risk being locked into an ineffective and inefficient fraud solution for a long period of time.
With dilemmas of choice, merchants face a high level of difficulty in selecting the right solution to grow their businesses. This report aims to enhance merchants' decision-making capacity by providing a recent overview of the fraud industry, facilitate a deeper understanding of existing fraud detection tools, and assist merchants in the selection of a risk management solution that optimizes revenue growth per chargeback risk.
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