DUBAI, United Arab Emirates, July 18, 2024 (GLOBE NEWSWIRE) -- TPAY, the leading payments provider in the Middle East, Africa, and Turkey (META), has published a comprehensive white paper analyzing the dangers, obstacles, and hazards posed by fraudsters in mobile payments. The paper also outlines effective methods to mitigate these risks. Combating fraud is crucial for business success, as it enables safe digital monetization and fosters a sustainable mobile ecosystem.
According to Juniper Research, the foremost experts in payment markets, merchants lost approximately 38 billion USD to online fraud in 2023 alone. This figure is projected to rise to 91 billion USD by 2028.
The most common types of online payment fraud affecting merchants in 2024 will include account takeover, friendly fraud/chargeback abuse, identity theft, and e-gift card fraud, among others.
Merchants, payment solution providers, and financial institutions must deploy effective fraud prevention technologies to tackle various types of fraud, comply with international regulations, and ensure a smooth user experience. However, the effectiveness of these technologies depends on the quality and completeness of the data used.
These are just a few of the many topics and points covered in our white paper, which you can download for free: Keeping Fraud Awat from Mobile Payments
About TPAY
We serve as the connector, bringing the unconnected into the digital world.
We aim to connect the entire Middle East, Turkey, and Africa, and make the digital world accessible to all by being the most reliable facilitator for digital micropayments in the region.
Our offerings
- A full service, end-to-end solution connects digital service providers to potential of millions of users.
- Simple but transformative technology allows merchants and telecom operators to access and accept payments from consumers in more than 30 countries.
- Reliable facilitator eliminates the complexity by simplifying and handling the legal, financial including the cross-border settlements, and operational processes so our partners can focus on growing further in META with additional revenue channels.
The world’s tech brands: Google, Huawei, MBC, Tencent, Anghami, beIN, and others trust TPAY.
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