The demand for remote services increased abruptly during the COVID-19 pandemic. Consumers needed a way to purchase goods and services without the risks of contracting the virus. However, as eCommerce and online merchants respond to this unprecedented level of consumer demand, they are also challenged to shore up their defenses against fraud.
Even during a global health crisis, criminals are determined to take advantage of opportunities to defraud enterprises. They can easily bypass weak cybersecurity measures like conventional identity verification to perform fraudulent transactions and chargebacks. According to the Federal Trade Commission, online shopping topped the list of reported fraud cases amid the pandemic.
Therefore, online retailers must replace legacy systems with more robust solutions to combat eCommerce fraud. Many are already using advanced identity proofing methods that leverage biometric technology and identity documents to ensure they transact only with legitimate customers.
Identity documents play a crucial role in identity verification for remote onboarding. They supplement mobile facial biometric identity proofing where an individual’s personal information and selfie are compared to the information and photo displayed on the ID.
Often, online shoppers use their driver’s license when asked to provide a valid ID. A current driver’s license is among the most ubiquitous forms of personal identification. In 2019, almost 229 million individuals, or about 70% of the total US population, possessed a valid driver’s license.
Still, many will try to use forged driver’s licenses to circumvent the platform’s defenses. To further protect their sites from cheating attempts, eCommerce merchants can layer in identity document authentication that ensures their customer’s ID is genuine.
Additionally, online retailers must replace passwords with stronger login credentials for existing accounts. Enabling passwordless authentication on eCommerce platforms minimizes the risk of account takeover fraud.
Online merchants must ensure security and a seamless user experience on their sites. For more information on the matter, see this infographic from authID.
