The total number of open banking users who share data via open banking APIs to aggregate their bank accounts and access new services, is forecast to double by 2021, according to a new global research report.
eCommerce merchant losses to online payment fraud will exceed US$25 billion in 2024, up from just $17 billion in 2020, despite the ongoing implementation of Secure Customer Authentication (SCA) in Europe.
Global online payment fraud is predicted to cause losses exceeding US$200 billion over the next five years, driven by the increased sophistication of fraud attempts and the rising number of attack vectors.
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