Stay in the loop
Sign up for event alerts, as well as insights from our experts.
The losses due to fraud in financial transactions reached R$ 2.3 billion (US$ 1.013 billion) in Brazil in 2013, according to survey published by Serasa Experian. The off-line fraud of identity was the most recurrent in the period, registering R$ 1.2 billion (US$ 529 million). The additional fraud attacks occurred through internet, representing R$ 500 million (US$ 220 million) on e-Commerce losses and R$ 600 million (US$ 264 million) on bank volume via internet banking transactions.
According to market data, 30% of all the credit cards users have experienced some kind of problem in Brazil, which makes the country the fifth in the world ranking of this type of crime, behind United States and Mexico (both with 37%), United Arab Emirates (33%) and United Kingdom (31%). On the internet, crimes mostly occur during the purchase of electronic products and flight tickets, in addition to internet banking and hiring of services.
The situation can get worse this year in Brazil because of the World Cup, warned Serasa Experian. In 2010, when the tournament took place in South Africa, the gross loss on credit cards due to frauds increased 53% in the country, informs the company. The recommendation is that companies take extra care this year, especially retail chains and airlines.
allpago international provides a full-spectrum of payment services in the LATAM region. allpago works as a payment gateway, a white label payment service provider (PSP) or a product and service reseller for merchants and payment service providers interested in the LATAM markets.
allpago’s features include one-click payments, recurring payments, instalments, dynamic descriptor and mobile payment solutions. The company’s html 5.0 code allows multiscreen and is as easy to implement into the store through the “plug and pay” feature. Furthermore, the company offers a fully integrated Risk Management Solution with more than 70 checks. allpago has recently become the first LATAM payment solution provider of the Merchant Risk Council (MRC).
Current clients include Art.com, Busuu.com, McAfee, Teamviewer, Twoo.com and many other leading payment or digital companies from various sectors.
Image courtesy of Stuart Miles / FreeDigitalPhotos.net
Explore other insights
You might enjoy these other nuggets of wisdom.