MIAMI, Sept. 14, 2018 /PRNewswire/ -- Leading fraud prevention and management firm, ClearSale (http://clear.sale), was pleased to have its EVP Rafael Lourenco join industry mobile fraud leaders Michael Reitblat, Co-Founder and CEO of Forter, Frank Kerr, Chief Sales Officer of TableSafe, Craig Winter, Senior Product Management Director of Syniverse, and Marianne Crowe, VP of Payment Strategies of Federal Reserve Bank of Boston in a panel at Mobile Payments Conference 2018 that took place August 22-24 in Chicago.
The panel, called Mobile Payment Fraud: Picking Your Pocket in the 21st Century, discussed how the rise of mobile transactions is creating a whole new need for mobile fraud prevention and management. Today, 62% of smartphone users have made a purchase with their mobile device in the last 6 months, with Forrester finding that smartphones will be used in over one-third—or more than $1 trillion—of total U.S. retail sales at some point in the process of buying something in 2018.
"With all that growth, retailers that provide transactional services for customers on mobile devices need to understand the risks," said Rafael Lourenco, EVP of ClearSale. "In some cases, mobile transactions are twice as likely to be fraudulent. Providing education on these realities and discussing some of the newest tools that are available to combat mobile fraud is so vital, I'm glad that it was a featured topic at Mobile Payments Conference."
Some of popular tools that were discussed were text verification for suspected fraud, mobile database use for identification and flagging, machine-learning with human analysis, as well as the federal and regulatory terms that need to be considered for added consumer security and privacy.
For more information on the cutting-edge advancements in mobile payments fraud, visit http://clear.sale.
For over 15 years, ClearSale has helped retailers increase sales and eliminate chargebacks before they happen. Our solution protects a merchant's business by sorting orders and giving an accurate determination of fraud risk. Our manual review process ensures that suspect transactions are never denied outright, providing the highest approval rates industry-wide and virtually eliminating false positives. Founded in 2001 by two-time Olympic athlete Pedro Chiamulera, ClearSale has offices in Sao Paulo, Brazil, and Miami, Florida. More information at http://clear.sale or follow on Twitter @ClearSaleUS.