As merchants weigh the risks and rewards of expanding into the Metaverse, it’s important to understand the fraud and customer experience implications. Before making the leap, retailers should ensure their existing digital commerce platforms are secure.
Businesses doing cross-border trade can benefit from following a set of best practices to understand the right markets to focus on, the unique elements of customer and fraudster behavior in those markets, and what customers expect from the online shopping experience.
Fraud is becoming more personalized. The risks of not prioritizing identity verification for fraud prevention are significant — damaged brand reputation and consumer trust, compliance-related fines and significant financial repercussions.