Mobile devices are everywhere. 95% of UK millennials now use smartphones1; and it’s estimated that across the globe, nearly a billion more people now use mobile phones today than did five years ago.2 Mobile commerce will continue to grow as smartphones continue to be adopted. For example, forecasts for Europe’s EU 5 (France, Germany, Italy, Spain and the United Kingdom) show mCommerce will account for 43.8% of eCommerce sales by 2020, compared to 32.9% in 2016.3 As fraud teams determine which orders to accept or reject, fraud managers are key to providing a seamless mobile checkout experience. But they also need to protect their business from fraud – and from the damage it can cause to bottom line, customer experience and brand.
Published By: Concur ENT
Published Date: May 11, 2018
VAT has been a valuable source of revenue for the UK Government since 1973. Yet, despite
more than 40 years of getting used to calculating, paying and reclaiming VAT, businesses
still struggle to adhere to HMRC guidelines.
With support from SAP Concur, it doesn’t have to be this way. First, we offer an expense
audit solution to check for fraud and non-compliance. Secondly, we work with tax
specialists to help you comply with VAT regulations. Thirdly, we give you visibility and control
over all aspects of your travel, expense and invoice spending.
Crucially, we see VAT reclaim as an opportunity to reduce business costs and put
money back in your budget.
Fraud affects more than just your customers, it fundamentally destroys your reputation and has significant impact on your bottom line. In the first half of 2018, financial fraud from payment cards, cheques and remote banking totaled £358m in the UK alone, resulting from over a million incidents, an increase of more that 50% over the last 4 years.
Have a look at this interesting Infographic to find out more.
A2P (Application to Person) messaging has underpinned this transformation, across a wealth of new use cases and new verticals. Historically, A2P was used for alerts and, as PSMS (Premium SMS), as a billing mechanism and carrier for simple content and services, both for one-off downloads or actions (eg voting) and for recurring payments. The latter use case has declined markedly in the past 5 years, due largely to the transition to an app-based economy, largely driven by card billing and by regulatory action (in markets such as the US and UK) against fraudsters.