What are the risks associated with different payment methods?

Global eCommerce businesses benefit from offering locally preferred payment methods, including bank transfers, cards, digital wallets, mobile payments, and buy now, pay later services, to improve customer experience and conversion rates, but each method introduces risks such as transfer errors, fraud, identity theft, chargebacks, and device vulnerabilities. The article recommends mitigating these issues through network tokenisation to protect sensitive card data, pre-chargeback programs to resolve disputes early, compliance with standards such as PCI DSS, and 3D Secure authentication to verify cardholders. It argues that scalable global payment infrastructure can simplify secure cross-border acceptance by supporting local payment options, fraud prevention, payment optimisation, and multi-currency fund storage. Airwallex is presented as one such provider, offering broad licensing coverage, more than 160 local payment methods, tokenisation, 3DS2, machine-learning-based payment optimisation, and multi-currency wallets intended to reduce payment friction, disputes, and foreign-exchange costs.

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