Travel and Ticketing Sectors Drive Growth of Global eCommerce Transactions by 15 Percent in First Half of 2021, According to New Data from ACI Worldwide
August 12 2021 - 02:00AM
Business Wire
- Travel and Ticketing Sectors show strong signs of recovery with
122 percent rise in transactions in Q2 2021
- Payment methods such as BNPL, BOPIS, mobile in-app payments,
eWallets and social media purchases continue to grow in
popularity
- Fraud attacks on new channels like Mobile and BOPIS are on the
rise, report warns
New benchmark data from ACI Worldwide (NASDAQ: ACIW), a leading
global provider of real-time digital payment software and
solutions, reveals that global eCommerce transactions continue to
grow at a rapid pace. According to ACI's eCommerce Fraud Index
global eCommerce sales increased 15 percent during the first half
of 2021, compared to the same period in 2020. The increase was
driven partly by a 122 percent rise in travel and ticketing sales,
which showed strong signs of recovery in the second quarter of this
year compared to Q2 2020. The digital entertainment and home
improvement sectors also recorded strong sales as shoppers continue
to invest in DIY projects and gamers find new ways to interact
within their gaming communities.
“As travel restrictions begin to ease, more merchants are
offering greater booking flexibility, allowing consumers to change
dates and times as needed and giving them confidence in spending on
travel,” said Debbie Guerra, executive vice president, ACI
Worldwide. “As more people look to get away, we expect the travel
and ticketing sector to continue this long-awaited boost in
sales.”
ACI’s eCommerce Fraud Index also highlights that
fraudsters have been adapting quickly to new customer buying and
payment journeys as a result of the pandemic and are actively
targeting new channels. According to the research, mobile fraud
increased by 1.22 percent in the first half of 2020 and 1.32
percent in the first half of 2021. The increasingly popular BOPIS
channel (Buy online & pick up in store) saw a 6.17 percent
increase in fraud attempts in Q1 2021, with the average value
rising by $4 versus Q1 2020. The gaming and telco sectors
experienced the highest fraud attempt rates in the first half of
2021 while fraud attempt rates in other sectors have been declining
this year.
“The global eCommerce market continues to grow at a rapid pace
as customer buying journeys have changed permanently due to the
pandemic,” Guerra continued. “However, the rise of eCommerce has
also created a radically new fraud environment in which old ways of
detecting and preventing fraud will no longer work. Merchants
embracing payments innovation, to keep pace with digital demands,
must also deal with the challenges of an evolving fraud landscape,
or risk losing customers and ultimately revenues.”
The data also reveals that the average transaction value of
fraudulent purchases dropped from $179 in Q1 2020 to $114 in Q1
2021; however, it rose back up to $139 in Q2 2021.
“Fraudsters have shifted from high-value travel purchases to
low-value gaming purchases. Such low-value purchases are used by
fraudsters to test whether a merchant will accept their fraudulent
payment before moving to bigger ticket items. Moreover, we saw
clear evidence of BOT attacks migrating to mobile toward the end of
2020 and into 2021. Merchants must pay close attention to very
low-value purchases to keep fraudsters at bay,” Guerra
concluded.
Key Findings ACI eCommerce Fraud
Index Global eCommerce Transactions
- eCommerce purchases increased 15 percent in H1 of 2021 compared
to H1 of 2020
- Top performers in volume of transactions H1 2021 vs H1
2020
-Telco – 20 percent -Ticketing – 20 percent
-Travel – 19 percent -Gaming – 18 percent
- Transactions in the travel and ticketing sector rose 122
percent in Q2 2021 compared to Q2 2020
Fraud Trends
- Mobile fraud increased from 1.22 percent in H1 2020 to 1.32
percent in H1 2021
- Non-mobile fraud rates increased by almost 2 percent (0.59
percent in H1 2020; 1.71 percent in H1 2021) driven primarily
through gift cards and gaming purchases
- Average transaction value of fraudulent purchases dropped from
$179 in Q1 2020 to $114 in Q1 2021, it rose back up to $139 in Q2
2021
About ACI Worldwide ACI Worldwide is a global software company
that provides mission-critical real-time payment solutions to
corporations. Customers use our proven, scalable and secure
solutions to process and manage digital payments, enable
omni-commerce payments, present and process bill payments, and
manage fraud and risk. We combine our global footprint with local
presence to drive the real-time digital transformation of payments
and commerce.
© Copyright ACI Worldwide, Inc. 2021 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 the United States, other
countries or both. Other parties’ trademarks referenced are the
property of their respective owners.
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Dan Ring dan.ring@aciworldwide.com 781-370-3600
Katrin Boettger Katrin.boettger@aciworldwide.com 0044 (0) 7776
147 910
Nidhi Alberti nidhi.alberti@aciworldwide.com 781-370-3600
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