New Ideas in Marketing
Essential news for marketers, summarised by YouGov

The study was conducted among 1004 consumers and 400 merchants in the US.

The cost of fraudulent transactions rose by 9% to 27%, according to the 2019 American Express Digital Payments Survey. The rise in fraudulent activity comes even as businesses are increasingly looking to use a “frictionless checkout system.”

77% of merchants surveyed said they had been a victim of fraud in some manner, with stolen cards (37%) the most commonly cited form of fraud. 69% of US merchants are spending significant company time and resources for dealing with payment fraud.

While a majority of consumers (54%) said, they were a victim to fraud, around 32% said they found security procedures like PINs to be confusing and cumbersome. Consumer confidence in data security has fallen to 57% in 2019 from 63% in 2018.

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