PREVENTING FRAUD IN THE MOBILE PAYMENT. REVIEW OF METHODS AND SOLUTIONS
Angelina Bott,
Institute of Radio and Information Systems (IRIS), Vienna, Austria
iris@media-publisher.eu
DOI: 10.36724/2664-066X-2024-10-3-36-52
SYNCHROINFO JOURNAL. Volume 10, Number 3 (2024). P. 36-52.
Abstract
Combating fraud is crucial for business success, as it enables safe digital monetization and fosters a sustainable mobile ecosystem. In the evergrowing world of e-commerce, the security of payment transactions has become a top priority for businesses and consumers. Online security threats are constantly evolving, and e-commerce businesses must stay up to date with best practices and the latest technologies to protect their customers’ sensitive financial information. Payment solution providers, and financial institutions must deploy effective fraud prevention technologies to tackle various types of fraud, comply with international regulations, and ensure a smooth user experience. However, the effective-ness of these technologies depends on the quality and completeness of the data used. With the global expansion of mobile payment, fraud techniques are likewise getting more advanced. In order to make mobile payment a secure payment procedure, increasing awareness is necessary, as well as robust and comprehensive anti-fraud solutions. The article describes methods and solutions in the field of Preventing fraud in the mobile payment.
Keywords: fraud techniques, mobile payments, e-commerce, machine learning, artificial Intelligence
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