Too much business is lost in the tug of war between fraud control and sales goals. And it’s not just about lost revenue. It’s the added cost of reviewing false positives and the negative impact on customer experience.
If fraud control wins, your top-line revenue can suffer. You can lose too many legitimate customer transactions to super-sensitive fraud filters. If your sales initiative wins and you accept more transactions, your top-line revenue looks better.
But your bottom line may take a hit from all of the unfiltered fraud attempts. Whichever side wins the tug of war will also have a real impact on the customer experience, for better or for worse. This is not a game that you should have to play. Fraud protection and sales goals should work together to drive business growth—to make way for more real business.
With the explosion of eCommerce in recent years, fraudsters have been rapidly exploiting existing weaknesses and finding new ways to commit their crimes. This has left many merchants in a constant high state of alert over fraud prevention, which, in turn, can prevent sales.
This white paper, commissioned by Cybersource and produced by Aite-Novarica Group, explores how attitudes towards fraud management are changing. Rather than focusing solely on minimising fraud losses, progressive companies are leveraging it to expand their business and maximise sales.
Key takeaways from the study include the following:
Drawn from over 21 billion transactions across the globe and backed by machine learning (ML) and specialists who can interpret it, incorporate your own data and apply the insights to your business.