PORTLAND, Ore – Dec. 2, 2014 – iovation, the trusted source for mobile and online fraud prevention, has found that 37 percent of retail online transactions from this Black Friday to Cyber Monday were made from mobile phones and tablets. This compares to 33 percent of online retail purchases during the same time period in 2013 being made from mobile devices.
Specifically, iovation found this year that mobile devices accounted for:
· 38 percent of transactions on Black Friday
· 40 percent on Saturday and Sunday Nov. 29 and 30
· 30 percent on Cyber Monday
· 44 percent the weekend before Black Friday, Nov. 22 and 23
“When we looked closer at the holiday data and other historical intelligence, it was clear that fewer people shop from mobile devices during the work week as they presumably make purchases from work computers, not personal phones and tablets,” said iovation’s Vice President of Product, Scott Olson. “Any way you look at the data, it is clear that just like we experienced an e-commerce boom in the Internet’s early days, we are now in the midst of an m-commerce explosion today.”
The company had predicted last week that about 40 percent of all retail online transactions from Black Friday to Cyber Monday in 2014 would be conducted from a mobile device.
iovation’s analysts also took a closer look at fraud data during the early holiday shopping season. They determined during the four-day period that:
· 0.64 percent of all online transactions were fraudulent.
· 0.29 percent of retail online transactions were fraudulent.
· 0.37 percent of all online transactions conducted from mobile devices were fraudulent.
· The top types of online fraud were credit card fraud, phishing, identity theft and account takeover.
iovation came to these conclusions by analyzing the tens of millions of transactions that its fraud prevention solutions processed from Black Friday to Cyber Monday. The company determines whether or not a transaction is trustworthy for some of the world’s biggest global brands through a combination of advanced device identification, shared device reputation and real-time risk evaluation. This creates unique insight into retail and financial industry transactions—two key sectors for holiday shopping. iovation will be discussing these trends and more on December 11, 2014, during the Retail Cyberthreat Summit, a 90-minute webcast. To register, go to www.iovation.com/resources/webinars.
iovation protects online businesses and their end users against fraud and abuse through a combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 3,000 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation’s database of 2 billion Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company’s device reputation database is the world’s largest, used to protect more than 10 million transactions and stop an average of 200,000 fraudulent activities every day. The world's foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation's Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit www.iovation.com.