SOURCE: iovation

iovation

November 24, 2014 12:00 ET

iovation Predicts 40 Percent of All Online Retail Transactions From Black Friday to Cyber Monday to Come From Mobile Devices

So Far in 2014, iovation Has Found 32 Percent of All Online Retail Transactions Have Been Conducted From Mobile Phones and Tablets

PORTLAND, OR--(Marketwired - Nov 24, 2014) - iovation, the trusted source for mobile and online fraud prevention, is predicting that about 40 percent of all retail transactions from Black Friday to Cyber Monday this year will be made from mobile phones and tablets.

iovation protects some of the biggest global brands. This creates unique insight into the level of transaction volumes seen across the retail and financial industries -- two key players when it comes to holiday shopping. In addition, its recently updated mobile SDK, which enables businesses to identify and prevent mobile fraud while improving mobile user experience, helps companies better identify what types of devices are attempting to make transactions with them.

"We know from recent surveys that consumers spend more than 15 hours per week on mobile research and 55 percent of those want to make a purchase within the hour," said iovation's Vice President of Product, Scott Olson. "Our data confirms that mobile transactions are steadily increasing as consumers continue to shop on the go."

The company is also predicting the top types of online fraud expected over the holiday season. They are:

  • Credit card fraud
  • Phishing
  • Identity theft
  • Account takeover

"This is the busiest time of year for our clients and fraudsters," said Olson. "No matter what the traffic volume, we provide device-based fraud prevention that will stop mobile and online fraud."

iovation's technology analyzes more than 10 million digital transactions every day to determine what is and isn't fraudulent. This creates unique insight into the level of transaction volumes seen across the biggest global brands during the holiday shopping season.

In recent years iovation has seen the following growth in mobile transactions:

  • 2014 - Twenty-nine percent of all online transactions and 32 percent of all retail transactions came from mobile devices.
  • 2013 - Twenty-two percent of all online transactions and 20 percent of all retail transactions came from mobile devices. Twenty-Seven percent of all online and 31 percent of all online retail transactions from Black Friday to Cyber Monday came from mobile devices.
  • 2012 - Twelve percent of all online transactions and 9 percent of all retail transactions came from mobile devices. Sixteen percent of all online and 13 percent of all online retail transactions from Black Friday to Cyber Monday came from mobile devices.
  •  2011 - Four percent of all online transactions and 3 percent of all retail transactions came from mobile devices. Sixteen percent of all online and 3 percent of all online retail transactions from Black Friday to Cyber Monday came from mobile devices.

iovation will be discussing these trends, predictions and more on December 11, 2014, during the Retail Cyberthreat Summit, a 90-minute webcast. To register, go to www.iovation.com/resources/webinars.

About iovation
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.

Contact Information

  • CONTACTS:
    iovation Inc.
    Connie Gougler
    503-943-6748
    Email Contact