COVID-19 , Fraud Management & Cybercrime , Governance & Risk Management

How the Pandemic Has Led to a Shift in Payment Methods

Analyzing Trends and Their Implications for Fighting Fraud
Trevor Forbes, director of collaboration, The Strawhecker Group

As a result of the COVID-19 crisis, consumers have changed the way they pay for goods and services. Trevor Forbes, an electronic payments expert at The Strawhecker Group consultancy, shares the results of a new survey that spotlights the latest trends. And he discusses the implications for fighting fraud.

See Also: A Perfect Storm for Social Engineering: Anticipating the Human Factor in Post-Pandemic Cybersecurity

In a video interview about the survey of small businesses, which was conducted with the Electronic Transaction Association, Forbes discusses:

  • Fraud and payment card chargebacks by industry during March 2020;
  • The growing use of contactless payments;
  • The rapid rise in telephone payment transactions and inherent fraud risks.

Forbes is director of collaboration at The Strawhecker Group, an analytics and consulting firm focusing on electronic payments.

About the Author

Nick Holland

Nick Holland

Director, Banking and Payments

Holland, an experienced security analyst, has spent the last decade focusing on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times. He holds an MSc degree in information systems management from the University of Stirling, Scotland.

Around the Network

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing, you agree to our use of cookies.