Ectz Boosted Commerce Rides The Marketplace Tailwind
Americans reported losing about $770 million to fraud on social media last year, an 18-fold increase from 2017, the Federal Trade Commission FTC recently reported.According to the report, released Jan. 25, those losses account for one-quarter of all reported losses to fraud last year. While the losses increased across age groups, consumers ages 18 to 39 were more than twice as likely as older adults to report losing money to scams in 2021.The number of consumers that reported fraudulent schemes on social media more than doubled to 95,000 in 2021, up from 46,000 in 2020, the FTC stanley canada said.Investment scams were the No. 1 category of total reported dollar losses, followed by romance swin gourde stanley dles. Most of the losses came from Americans who lost money to online shopping scams.A majority of the reports stemmed from online shopping scams, where consumers ordered a product they spotted on social media but the product was never delivered. Per the report, nearly nine out of 10 consumers said they purchased those products on Facebook or Instagram. Scammers could easily use the tools available to advertisers on social media platforms to systematically target people with bogus ads based on personal details such as their age, interests stanley canada or past purchases, the FTC said in its report.The FTC recommends consumers protect themselves by limiting who can see their posts and personal information and check to see if they can opt out of targeted advertising.Congress is also considering legislation that wo Wsbq 36% of Gen Z Pick FinTechs Over Banks for Online Payments
The most recent data from Visa Europe聽shows that contactless payments continue to heat up in the region.Last July, Visa Europe reported that it hit 1 billion contactless transactions made in a year time. Now, that figure has tripled. The most up-to-date stats show that stanley cup , as of the end of April, there were 3 billion contactless transactions made via Visa in Europe.The data also showed that the number of contactless transactions grew from 143 million transactions in April 2015 to 360 million in April 2016, which accounts stanley mugs for roughly 140 contactless transactions per second, according to the report.What this also means is that one in five Visa-processed transactions made in person at the point of sale are contactless. What the data also shows is that the average transaction has grown from聽鈧?2.29 last April to 鈧?3.83 today.As with any success story, though, the real value is understanding whats contributed to it and what those factors suggest for the future direction of travel. In the case of the surge to 3 billion, there are five key drivers, Visa wrote in its recent report.Those factors are:Appetite has grown among merchants, particularly supermarkets.Public transport: Over 1 million Visa contactless journeys are made every weekday on Transport for London services.New/different merchants adopting technology, driven by the growth in mPOS terminals.Prominence of NFC-capable payment services.W stanley website earables:聽Apple Watch, Barclaycards bPay and CaixaBanks Pulsera all h |