Automated subscription payments are an eCommerce dream. Once you’ve acquired a customer, they’re much more likely to repeatedly buy if subscribed. Extremely popular post-pandemic, subscription-based businesses are booming in practically every industry–from personal care products to specialty foods. It is estimated that as many as 75% of consumer brands will have a subscription-based offering in 2023.
Unfortunately, like most other things in the eCommerce world, subscription-based businesses are at an increased risk for fraud and chargebacks. Around 60% of Subscription businesses have noticed an increase in online payment fraud in the past 12 months. And it’s not just traditional card-not-present fraud that’s on the rise. 56% of Subscription merchants are seeing new threats emerge (MRC).
In this session, we discuss the top subscription trends NoFraud has seen, what these fraud schemes look like, and the resources available to stop them.
Things you’ll learn:
- The 3 most common forms of subscription fraud
- How to spot subscription fraud schemes
- Tips on preventing subscription fraud