Do you know? There is another name for the second Monday of December; it’s called Green Monday. It is the last biggest online sale of the year after Black Friday and Cyber Monday and a golden buying opportunity for the last minute holiday shoppers. Majority of retailers will start their online sales at midnight to get most of the Green Monday sales advantage. From Thanksgiving to Cyber Monday online sales has already generated more than $24 Billion this year setting a promising holiday sales season ahead.
Mobile Phones Will Lead the Sales
2017 Green Monday saw a 247% increase in mobile app sales over 2016 and it is expected to keep growing at an elevated rate in 2018 as well. This is the prime reason why fraudsters are continuously sharpening their attacks on the mobile channel. 2017 Green Monday witnessed the 194% increase in fraud attacks on mobile app as compared to 2016. Businesses needs to prioritize and augment their fraud fighting approach towards mobile platform as mobile transactions were up by 55.6% on Cyber Monday over last year to reach $2.2 billion in sales.
Fraud is Drawing Revenue Out of Businesses
The holiday season has become the prime time for fraud as more fraudulent activities are reported every year. Identity theft has taken the center stage as consumers opt for new credit/debit card accounts owing to the great discounts offered. Fraudsters leverage the opportunity as it is less likely to identify fraudulent activities ensuing to elevate transaction volumes.
Non-Legacy Fraud Prevention with 24X7 Coverage to Protect Your Business
Card fraud is projected to reach $12.12 Billion by 2020 in U.S. ID theft along with data breaches will make the fraud impact larger on FI’s and merchants. Being aware of emerging fraud trends and employing protective fraud prevention approach is the best defense for businesses against fraud perpetrators. Don’t lose the year’s biggest profit-making opportunity to fraud.
QPS’ 24×7 and AI driven transaction monitoring for effective fraud detection, prevention and secure payment processing will provide a multilayered fraud defense to businesses. Solutions integrated with machine learning and human eye review ensures smooth shopping experience for your customers and enhances your order acceptance rate and ROI.