Online companies emphasize fraud prevention over easy web transactions

When asked which was more important to their online businesses, 81% of companies responding to a recent survey said stopping online criminals in their first attempt at fraud, and 19% said making a web site fast and easy for consumers to complete an online transaction, according a report by payments security technology vendor ThreatMetrix and NACHA, an electronic payments industry association.

The survey of 185 payment executives was conducted at the NACHA Payments 2010 Conference in Seattle last month.

Among other findings, the survey noted that respondents cited payment account log-in as the type of web transaction at their business most in need of protection from fraud, followed by card-not-present payments and the creation of new payment accounts.