Excerpt from the World Payments Report 2011
As the use of non-cash payments instruments grows, so does concern about the potential for fraud. Global card fraud has increased consistently along with card usage in recent years. The number of fraudulent card transactions grew 7.2% and 12.8% respectively in 2008 and 2009, with the amount lost to card fraud totaling €4.9 billion in 2009, up from €4.4 billion in 2008.
This excerpt from the World Payments Report 2011 explores how the payments industry is pursuing various innovations to tackle fraud and better secure non-cash transactions—and thereby bolster consumer confidence.