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Now more than ever, businesses are focusing on preventing databreaches and implementing response protocols to mitigate breaches if they occur. According to the 2023 IBM DataBreach Report , the global average cost of databreaches was $4.45 What are databreaches?
The problems of security, databreaches, identity verification and userauthentication just keep getting bigger. When a consumer signs up for a service, they must enter their name, email address, phone number, SocialSecurity number and more.
This, however, means Affirm is responsible for any fraudulent transactions, making proper userauthentication a top priority. Another key difference from credit cards is that Affirm pays merchants directly and does not route funds through the customer. Verification Relies on Existing Information .
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