Vesta Named as Established Leader in Juniper Research Fraud Report

Vesta is pleased to announce our notable ranking in the recently-published Juniper Research Online Payment Fraud report.

The report, titled "Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2023-2027," offers a comprehensive evaluation of today’s online payment fraud landscape, including an examination of emerging threats and market trends.

We are honored to be rated as the highest for product creativity and innovation as well as for our #6 overall ranking in the report, which underscores our unwavering commitment to combating online payment fraud through cutting-edge technology and advanced machine-learning algorithms. As an Established Leader in the industry, we were highly rated for Operations, Distribution & Partnerships, Compatibility & Interoperability, Customers & Deployments, as well as Future Business Prospects.

Key Findings & Implications For The Fraud Industry

The Juniper Research Fraud Report holds substantial importance for the financial technology sector by offering valuable insights that assist businesses in identifying areas for improvement. By acting as a benchmark for fraud prevention strategies across a number of verticals – from Airline eTickets, Remote Digital Goods, Remote Physical Goods, Digital Banking Fraud, to Money Transfer Fraud – the Juniper Fraud Report enables stakeholders to fortify their defenses against evolving fraudulent activities, necessitating continuous innovation in fraud prevention.

Top takeaways from the report include:

• Card-not-present (CNP) fraud is projected to rise significantly, reaching $54 billion by 2028 with a CAGR of 18.87%.
• The transaction value of fraudulently purchased digital goods is expected to grow at a CAGR of 15.7% from $6.9 billion in 2023 to $14.3 billion in 2028.
• Remote physical goods purchases are also expected to increase substantially, reaching $36.7 billion in 2028 with a CAGR of 21.6%.
• Fraudulent money transfer transactions, including domestic P2P and international remittance transfers, will surpass $12.6 billion in 2028, with a CAGR of 18%.
• Digital banking fraud is projected to reach $24.8 billion in 2028, with a CAGR of 20.6
• The total spend on Fraud Detection and Prevention (FDP) solutions is also anticipated to rise from $10.8 billion in 2023 to $15.3 billion in 2028, with a CAGR of 7.5%.

Vesta’s Ongoing Commitment

At Vesta, we are committed to the ongoing battle against online payment fraud to drive positive change in the industry. By leveraging insights from the report and collaborating with industry stakeholders, we believe that we can collectively create a safer digital ecosystem, benefiting businesses and consumers alike.

To learn more about Vesta and request a demo today.