E-commerce is the activity of electronically buying or selling products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is the largest sector of the electronics industry and is in turn driven by the technological advances of the semiconductor industry.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
Internet fraud is a type of cybercrime fraud or deception which makes use of the Internet and could involve hiding of information or providing incorrect information for the purpose of tricking victims out of money, property, and inheritance. Internet fraud is not considered a single, distinctive crime but covers a range of illegal and illicit actions that are committed in cyberspace. It is, however, differentiated from theft since, in this case, the victim voluntarily and knowingly provides the information, money or property to the perpetrator. It is also distinguished by the way it involves temporally and spatially separated offenders.
A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. Most commonly the payer is a consumer. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit card. The chargeback is ordered by the bank that issued the consumer's payment card. In the distribution industry, a chargeback occurs when the supplier sells a product at a higher price to the distributor than the price they have set with the end user. The distributor submits a chargeback to the supplier so they can recover the money lost in the transaction.
Chargeback fraud, also known as friendly fraud, cyber shoplifting, or liar-buyer fraud, occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approved, the chargeback cancels the financial transaction, and the consumer receives a refund of the money they spent. Dependent on the payment method used, the merchant can be accountable when a chargeback occurs.
Radware Inc. is an American provider of cybersecurity and application delivery products for physical, cloud and software-defined data centers. Radware's corporate headquarters are located in Mahwah, New Jersey. The company also has offices in Europe, Africa and Asia Pacific regions. The company's global headquarters is in Israel. Radware is a member of the Rad Group of companies and its shares are traded on NASDAQ.
Internet fraud prevention is the act of stopping various types of internet fraud. Due to the many different ways of committing fraud over the Internet, such as stolen credit cards, identity theft, phishing, and chargebacks, users of the Internet, including online merchants, financial institutions and consumers who make online purchases, must make sure to avoid or minimize the risk of falling prey to such scams.
Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard is the data security standard created to help financial institutions process card payments securely and reduce card fraud.
A payment processor is a system that enables financial transactions, commonly employed by a merchant, to handle transactions with customers from various channels such as credit cards and debit cards or bank accounts. They are usually broken down into two types: front-end and back-end.
Trusteer is a Boston-based computer security division of IBM, responsible for a suite of security software. Founded by Mickey Boodaei and Rakesh K. Loonkar, in Israel in 2006, Trusteer was acquired in September 2013 by IBM for $1 billion.
A card-not-present transaction is a payment card transaction made where the cardholder does not or cannot physically present the card for a merchant's visual examination at the time that an order is given and payment effected. It is most commonly used for payments made over the Internet, but can also be used with mail-order transactions by mail or fax, or over the telephone.
Optimove is a privately held company that develops and markets a Relationship Marketing software as a service (SaaS). Optimove's product has a Customer Data Platform at its core and applies algorithmic optimization to autonomously improve multichannel campaigns. The company serves various industries, including retail, eCommerce, travel and hospitality, gaming, and financial services.
CustomerXPs is a Bengaluru-based software product company providing financial crime risk management and customer experience management solutions to banking institutions. Founded in 2006, the company sells its financial crime risk management software product under the brand name Clari5. CustomerXPs is identified as one of the top 100 global regtech companies.
Feedzai is a data science company that develops real-time machine learning tools to identify fraudulent payment transactions and minimize risk in the financial services, retail, and e-commerce industries. The company has been classified as a unicorn startup since March 2021, after a Series D funding round pushed its value above $1 billion.
Namogoo Technologies Ltd. is a Digital Journey Continuity software as a service platform, that autonomously adapts to each customer visit in real-time, that helps improve online customer journeys and business results for global retail brands. Namogoo's Customer Hijacking Prevention identifies and blocks unauthorized ad injections from diverting online shoppers to competitors. Namogoo's Intent-Based Promotions predicts and individualizes the minimum promotion for each visit — synchronizing customer intent with company business goals.
Riskified is a publicly traded company that provides software as a service (SaaS) fraud and chargeback prevention technology.
ThetaRay is a fintech software and big data analytics company with headquarters in Hod HaSharon, Israel and New York, and offices in Madrid, London, and Singapore.
ClearSale is a fraud management and chargeback protection services company that was founded in Brazil in 2001. It has offices in Miami, Florida in the United States and São Paulo, Brazil and over 1,000 employees.
Affirm Holdings, Inc. is an American public company founded in 2012. It is a financial technology company with a buy now, pay later service for online and in-store purchases. Affirm leads the buy now, pay later sector in the U.S., and reports serving 16.9 million customers and over 266,000 merchants, as of 2023.
