E-commerce payment fraud is a significant challenge, expected to result in $343 billion in global losses between 2023 and 2027, impacting both businesses and consumers as 43% of online shoppers have experienced such fraud. The article explores the five most prevalent types of payment fraud—buy now, pay later fraud, chargeback fraud, return fraud, card cracking or testing, and gift card scams—and their detrimental effects on consumer trust, operational costs, and user experience. To combat these issues, businesses are advised to implement strategies such as using reputable payment processors, monitoring transactions for abnormalities, conducting regular audits, and employing advanced visitor identification technologies. These measures aim to safeguard customer information, minimize financial losses, and maintain brand reputation by preventing unauthorized access and fraudulent activities within e-commerce platforms.