Modern healthcare has gone through countless ebbs and flows throughout the last decade, but one of the trends that’s making the most waves is the consumerization of the healthcare industry. So as a healthcare company, it’s only natural to wonder exactly what this means - and whether it matters to you and your business.
Given how fast-paced and digitized everything has become, it’s no wonder that paying quickly, easily and securely through phones and computers is now the norm. So, for companies to compete in the marketplace, they also need to offer these types of payment options to their customers. When done well, consumers are happy, companies enjoy more sales as a result of less payment friction… it’s a win-win all-around, right?
Not so fast. This rosy picture of easy consumer transactions on the go and easy payments for businesses is certainly the goal of end-to-end payment solutions, but before it can be the true reality, there are numerous barriers to overcome. One of these, unsurprisingly, is fraud. Specifically, “card not present” (CNP) fraud has been rising and is expected to reach costs of $7.2 billion annually by the end of 2020.
Microtransactions, the small in-game payments you make to purchase special equipment or benefits, are becoming a steady source of income for game developers. The approach to these transactions, however, can create a ripple effect that is tearing apart entire teams of content moderators.