Getting FIDO2 certification is very crucial in ensuring the security of your business systems. FIDO’s certification programs play a very crucial role in ensuring aninteroperable ecosystem of products and services that organizations can leverage to deploy FIDO Authentication solutions worldwide. The FIDO Alliance manages functional certification programs for its core specifications (UAF, U2F and FIDO2) to validate product conformance and interoperability. Moreover, it has introduced programs to delineate security capabilities of FIDO Certified Authenticators and to also test and validate the efficacy of biometric components.
Another technology that can benefit your business in a great way is ecommercefraud prevention. E-commerce fraud has evolved and increased especially with the rise in online commerce accelerated by CovidD-19. By 2024, it isexpected that that e-commerce merchants may lose an estimated $24 billion to online payments fraud, according to a study by Juniper Research. Even though e-commerce fraud increases are nothing new, bad actors are launching more sophisticated fraud attacks every day. So, as a business owner, you need to take the measures to protect yourself against ecommerce fraud.
It is more important than ever to take proactive steps to detect as well asprevent e-commerce fraud. When you invest in the right e-commerce fraud prevention solutions, it can make a big difference in customer safety and financial results.
One the things that an ecommerce fraud detection solution will help combat is payments fraud. This occurs when bad actors use stolen credit cards to buy goods and profit by reselling items. Card-not-present transactions are most at risk for this type of fraud since a bad actor does not have to present the card at the point of purchase. If you do not proactively prevent payments fraud, you can lose money to chargebacks, false positives, as well as operational inefficiencies.
For more information on FIDO2 certification and ecommercefraud prevention, visit our website at https://loginid.io/
