Kerrie Sherwood

Strong Customer Authentication in Australia: Reducing CNP Fraud and Streamlining eCommerce Payments

Minimizing fraud without harming the customer experience can be done – using the right tools In 2017-18, card-not-present (CNP) fraud cost Australian eCommerce AUD $478 million and accounted for some 85 percent of all fraud on Australian-issued cards1. In 2016, CNP fraud in Europe represented 70% of all card fraud2. Seriously uncomfortable numbers.

Cooperation, Consultation and Collaboration Are the Keys to Countering CNP Fraud in Australia

As Europe, and other parts of the world ramp up for regulatory changes around PSD2, Australia is about to launch its own strategy to combat Card Not Present (CNP) fraud.