Global Holiday Season Spending Expected to Grow by 16% in 2024, BNPL Surges While Synthetic Identity Fraud Emerges as Top Threat
ACI Worldwide's Unwrapping Checkout Trends report predicts a 16% increase in global eCommerce transaction value during the 2024 holiday season. Key findings include:
1. Buy now, pay later (BNPL) transactions surged by 237% in H1 2024.
2. Synthetic identity fraud emerged as the top threat, growing by 26%.
3. AI-driven fraud tactics are escalating threats for merchants.
4. Global eCommerce transaction volumes grew by 7%, led by travel (8%) and ticketing (3%).
5. Mobile transactions in the travel sector surged 22% YoY.
The report advises merchants to leverage AI for fraud protection, implement advanced machine learning, and utilize data-rich analytics to optimize customer interactions and boost acceptance rates.
Il report di ACI Worldwide intitolato Unwrapping Checkout Trends prevede un aumento del 16% nel valore delle transazioni eCommerce globali durante la stagione natalizia del 2024. Tra i risultati chiave troviamo:
1. Le transazioni Compra ora, paga dopo (BNPL) sono cresciute del 237% nel primo semestre del 2024.
2. Il frode d'identità sintetica è emersa come la principale minaccia, con un aumento del 26%.
3. Le tattiche di frode guidate dall'AI stanno aumentando le minacce per i commercianti.
4. I volumi delle transazioni eCommerce a livello globale sono cresciuti del 7%, guidati dal settore dei viaggi (8%) e dalla vendita di biglietti (3%).
5. Le transazioni mobili nel settore dei viaggi sono aumentate del 22% su base annua.
Il report consiglia ai commercianti di sfruttare l'AI per la protezione contro le frodi, implementare machine learning avanzato e utilizzare analisi ricche di dati per ottimizzare le interazioni con i clienti e aumentare i tassi di accettazione.
El informe de ACI Worldwide titulado Unwrapping Checkout Trends predice un incremento del 16% en el valor de las transacciones de eCommerce global durante la temporada navideña de 2024. Los hallazgos clave incluyen:
1. Las transacciones de Compra ahora, paga después (BNPL) aumentaron un 237% en el primer semestre de 2024.
2. El fraude de identidad sintética se presentó como la principal amenaza, creciendo un 26%.
3. Las tácticas de fraude impulsadas por IA están aumentando las amenazas para los comerciantes.
4. Los volúmenes de transacciones de eCommerce global crecieron un 7%, liderados por el sector de viajes (8%) y la venta de entradas (3%).
5. Las transacciones móviles en el sector de viajes aumentaron un 22% interanual.
El informe aconseja a los comerciantes aprovechar la IA para la protección contra fraudes, implementar aprendizaje automático avanzado y utilizar análisis ricos en datos para optimizar las interacciones con los clientes y aumentar las tasas de aceptación.
ACI Worldwide의 Unwrapping Checkout Trends 보고서는 2024년 홀리데이 시즌 동안 글로벌 전자상거래 거래 가치가 16% 증가할 것으로 예측합니다. 주요 발견 사항은 다음과 같습니다:
1. 지금 사서 나중에 결제하기 (BNPL) 거래가 2024년 상반기 동안 237% 급증했습니다.
2. 합성 신원 사기가 주요 위협으로 부각되며 26% 증가했습니다.
3. AI 기반 사기 전술이 상인들에게 더욱 위협이 되고 있습니다.
4. 글로벌 전자상거래 거래량이 7% 증가하며, 여행 부문이 8%, 티켓 판매가 3%로 이끌고 있습니다.
5. 여행 분야의 모바일 거래가 전년 대비 22% 증가했습니다.
보고서는 상인들에게 사기 방지를 위한 AI 활용, 고급 기계 학습 구현, 고객 상호작용 최적화를 위한 데이터 기반 분석 사용을 권장합니다.
Le rapport d'ACI Worldwide intitulé Unwrapping Checkout Trends prévoit une augmentation de 16% de la valeur des transactions eCommerce à l'échelle mondiale durant la saison des fêtes 2024. Les principaux résultats incluent :
1. Les transactions Achetez maintenant, payez plus tard (BNPL) ont augmenté de 237% au premier semestre 2024.
2. La fraude d'identité synthétique est apparue comme la principale menace, avec une augmentation de 26%.
3. Les tactiques de fraude pilotées par l'IA constituent une menace croissante pour les commerçants.
4. Les volumes de transactions eCommerce mondiales ont augmenté de 7%, menés par le secteur du voyage (8%) et la vente de billets (3%).
5. Les transactions mobiles dans le secteur du voyage ont bondi de 22% par rapport à l'année précédente.
Le rapport conseille aux commerçants de tirer parti de l'IA pour la protection contre la fraude, d'implémenter un apprentissage machine avancé et d'utiliser des analyses riches en données pour optimiser les interactions avec les clients et augmenter les taux d'acceptation.
Der Bericht von ACI Worldwide mit dem Titel Unwrapping Checkout Trends prognostiziert einen 16% Anstieg des Wertes globaler eCommerce-Transaktionen während der Feiertagssaison 2024. Zu den wichtigsten Ergebnissen gehören:
1. Die Jetzt kaufen, später zahlen (BNPL) Transaktionen stiegen im ersten Halbjahr 2024 um 237%.
2. Synthetischer Identitätsbetrug trat als größte Bedrohung auf und wuchs um 26%.
3. KI-gestützte Betrugstaktiken stellen eine zunehmende Bedrohung für Händler dar.
4. Die globalen eCommerce-Transaktionsvolumina wuchsen um 7%, angeführt von Reisen (8%) und Ticketverkäufen (3%).
5. Mobile Transaktionen im Reisebereich stiegen im Jahresvergleich um 22%.
Der Bericht empfiehlt Händlern, KI zum Schutz vor Betrug zu nutzen, fortschrittliches maschinelles Lernen zu implementieren und datengestützte Analysen zu nutzen, um Kundeninteraktionen zu optimieren und die Akzeptanzquoten zu steigern.
- Global eCommerce transaction value expected to grow 16% during 2024 holiday season
- BNPL transactions increased by 237% in H1 2024
- Global eCommerce transaction volumes grew by 7% in H1 2024
- Travel sector transactions via mobile surged 22% YoY in H1 2024
- Omnichannel retailers see 70% higher spending from convenience-oriented consumers
- Fraud values increased by more than 3% in H1 2024
- Synthetic identity fraud grew by 26%, posing a significant threat to holiday season sales
- AI-driven fraud tactics are making it harder for merchants to distinguish real customers
Insights
The projected 16% increase in global eCommerce transaction value for the 2024 holiday season is a significant positive indicator for ACI Worldwide (ACIW). As a payment technology provider, ACIW stands to benefit from increased transaction volumes and values. The surge in Buy Now, Pay Later (BNPL) transactions by
However, the rise in synthetic identity fraud, with a
With a market cap of
The emergence of synthetic identity fraud as the top threat this holiday season is a critical development. With average transaction values nine times higher than other common fraud types, this poses a significant risk to both merchants and payment processors. ACI Worldwide's focus on AI-driven fraud prevention is timely and necessary.
The report highlights the increasing sophistication of fraudsters using AI-driven bots, scripts and deep fake technology. This escalation in AI-powered fraud tactics necessitates more advanced defensive measures. ACI's emphasis on AI predictive modeling and payment intelligence signals to combat these threats could give them a competitive edge in the cybersecurity aspect of payment processing.
However, the rapid evolution of fraud techniques means constant innovation is required. ACI's success will depend on its ability to stay ahead of these threats and provide robust, adaptable security solutions to its clients. The company's approach to leveraging data-rich analytics for fraud prevention aligns well with the current threat landscape.
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ACI’s Unwrapping Checkout Trends report anticipates a
16% increase in global eCommerce transaction value during the 2024 holiday season, with the travel sector leading the growth. - Synthetic identity fraud is the top threat this holiday season, with average transaction value at nine times more than other common types of payments fraud.
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Sales transaction volume is expected to increase
6% across all Cyber Weekends.
Holidays_Prediction_Infographics_ACI (Graphic: Business Wire)
Buy now, pay later (BNPL) booms as shoppers turn to flexible payments
BNPL payments experienced a remarkable surge as shoppers turned to more flexible payment methods to spread their spending and manage their budgets. In H1 2024, global BNPL transactions skyrocketed by an astounding
Synthetic identity fraud is threatening to disrupt holiday season sales
According to ACI data, fraud values increased by more than
Fraudsters are turning to AI to fuel fraud
AI technology, such as AI-driven bots and scripts, has given fraudsters unprecedented speed to automate the process of generating synthetic identities on a massive scale. Fraudsters have also finessed the use of deep fake technology to create images, voice and video to bypass existing fraud detection systems.
"The rapid proliferation of AI-driven fraud tactics and stolen data on the Dark Web is escalating threats, making it harder than ever for merchants to distinguish real customers," said Cleber Martins, head of payments intelligence and risk solutions at ACI Worldwide. "Merchants should tighten their defenses by harnessing AI predictive modeling to detect threats and using payment intelligence signals to eliminate false positives without disrupting genuine transactions."
Key report insights at a glance
Payment trends (H1 2024 vs. H1 2023 transactional data)
-
Global eCommerce transaction volumes experienced
7% growth, led by an8% increase in travel volumes and a3% increase in ticketing. -
Alternative payment methods are shaking up the payments mix, with payment methods via BNPL and digital wallets growing
237% and209% , respectively. -
Digital eCommerce transactions saw solid year-over-year (YoY) growth, with travel sector transactions via mobile surging
22% versus5% for desktop in H1 2024 vs. 2023. -
Omnichannel retailers hold a competitive advantage, as convenience-oriented consumers spend
70% more when choosing Click and Collect or Buy Online, Pickup in-Store.
Holiday season predictions
-
Global eCommerce transaction volume is anticipated to increase by
12% during the holiday season, with the travel sector leading the expected transaction growth. -
2024 will see a
6% increase in sales volume across all Cyber Weekend days, with Cyber Monday expected to achieve the biggest YoY growth at12% . - Fraudsters will intensify their use of advanced AI tools to exploit vulnerabilities and mask activities with fake accounts and IDs to scale attacks.
Actions for merchants to capitalize on holiday sales spike
- Leverage AI to automate fraud protection, mitigate data siloes, and deliver real-time intelligence across commerce and marketing.
- Implement advanced machine learning algorithms and predictive modeling to understand the fraud landscape and predict future risks.
- Utilize data-rich analytics to gain deep insights into consumer journeys and behavior that can help optimize interactions, reduce friction and boost acceptance rates.
"Consumers' shopping journeys are evolving with more channels, hybrid services, and diverse payment options. Payments play a pivotal role in the shopping experience, reshaping how customers engage and shop," said Bobby Koscheski, head of merchant, ACI Worldwide. "By harnessing precise and real-time data and insights, merchants can better understand customers, verify digital identities, and craft hyper-personalized journeys that build trust while maximizing sales."
For more information, click here to download the ACI’s Unwrapping Checkout Trends report
*Holiday season/Q4 refers to the period of October through December.
About ACI Worldwide
ACI Worldwide, an original innovator in global payments technology, delivers transformative software solutions that power intelligent payments orchestration in real time so banks, billers, and merchants can drive growth, while continuously modernizing their payment infrastructures, simply and securely. With nearly 50 years of trusted payments expertise, we combine our global footprint with a local presence to offer enhanced payment experiences to stay ahead of constantly changing payment challenges and opportunities.
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ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay, and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241008686290/en/
Media
Nick Karoglou | Head of Communications and Corporate Affairs | nick.karoglou@aciworldwide.com
Lyn Kwek | Communications and Corporate Affairs Director, APAC/
Source: ACI Worldwide
FAQ
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