By 2020, retail chargebacks caused by fraud are estimated to reach $31 billion with ecommerce fraud accounting for 65% of all fraud value. Additionally, rising synthetic ID fraud is affecting both the payments industry and consumers. The Federal Reserve recently identified the trend as the fastest growing type of financial crime in the US representing 85% of all identity fraud, and accounting for 80% of all credit card fraud losses, and nearly one-fifth of credit card charge-offs.
Beyond managing risk, retailers must stay competitive by offering superior customer experiences with the latest technology for everything from fast checkouts and loyalty signups to security and data protection (PII). Acuant's next gen Identity Platform speeds up, simplifies and strengthens processes for in store or digital transactions via cloud, mobile/apps, kiosk & desktop scanners. In addition, retailers can catch fraud and verify age for regulated services and products via instant ID verification and facial recognition- all in seconds.
We are committed to providing a safe environment and an outstanding user experience for our customers. Acuant, a trusted market leader in identity authentication, helps us build a community of trust with our customers as we launch our platform throughout North America."
Boro is a peer-to-peer sharing platform that enables users to rent power tools and other popular home items from peers in local communities throughout North America