Visa’s 2024 Nordic Payment Study reveals that while card fraud rates are falling and outperforming global benchmarks, consumer trust is eroding as fraud attempts rise, especially through social engineering. Nearly half of Nordic consumers experienced fraud in the past year, with phishing and vishing scams driving losses of over €800 million. Many victims remain unreimbursed, fueling mistrust and negative perceptions of digital payments despite cards often being safer than A2A transfers. For banks, priorities include adapting fraud prevention to new payment types, enhancing dispute resolution, and educating consumers.

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