Many aspects of the global economy are beyond the control of individual businesses. There is little they can do to curb inflation, unknot supply chains, or halt a war. But they can optimise the way they manage their business, and a new report from Stripe finds that one of the biggest drags on growth is something they have a lot of power to curb: eCommerce fraud.
Combining data from billions of transactions on the Stripe network from 20192021 with a survey of more than 2,500 businesses from 9 countries, the report identifies global fraud patterns across geographies and business models. It details the growing burden global businesses face from eCommerce fraud, the difficult choices they must make, and the steps they can take to fight back and protect their margins.
Key findings include:
Nearly three-quarters of businesses have diverted engineering resources, and more than half have curtailed expansion plans, due to fraud…