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Have you ordered lunch via a mobile app recently? Multiple restaurant types including quick service restaurants (QSRs), fast casual, as well as table service restaurants are engaging customers through mobile apps. In fact, QSRMagazine published the findings of a consumer study for mobile app usage of 2,500 diners. The results support the rapid growth of mobile apps and the industry’s continued adoption of mobile eCommerce. Specific consumer insights include:
Restaurants want to remain competitive and as a result, they are promoting brands through a digital presence.
Related: Kount's digital fraud prevention protects restaurant mobile apps. Schedule an overview.
With all its promise, mobile apps open the restaurant to a new type of fraud that few are equipped to handle – i.e. card not present (CNP) fraud. When restaurants experience fraud in their traditional card-present environment, the liability of loss is on the card issuer. When launching a mobile app to accept transactions in a card-not-present environment, the liability now shifts to the restaurant. This places the restaurant at risk of new fraud tactics, potential chargebacks and greater financial losses.
6 of the Top Mobile App Fraud Schemes Restaurants Face
Restaurants that optimize the mobile app purchase process can maximize conversions and sales, reduce fraud, and minimize losses caused by fraud. By building a level of fraud prevention in their mobile apps, restaurant are empowering decision makers with data to make informed decisions, mitigating fraud before it impacts the businesses’ bottom line.
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