When a legitimate customer has their order declined because of fraud concerns they may purchase from a competitor and may never return to the merchant who turned them away. This is not only painful in terms of losing the sale and potentially the lifetime value of that customer, but this makes measuring false positives difficult.
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A recent study from PPRO and Edgar, Dunn & Co. found that while about 40 percent of online sales in European countries are made to customers abroad, just 11 percent of U.S. eCommerce sales are purchases made from foreign countries. This lopsided figure underscores the difficulty of facilitating cross-border transactions, but there are many factors
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Card Not Present channel Merchants cite order rejection rates of nearly 3 percent for domestic transactions and nearly 7 percent for international orders. Meanwhile more than half of merchants depend on AVS and CVV checks, considering them to be effective fraud tools. While most merchants measure fraud rates and order rejection rates, far fewer take
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According to marketing analytics data from Jumpshot, when Amazon’s Prime Day kicked-off on Monday July 16 their daily sales conversion rate was just 4.5 percent higher than the previous Monday. On Tuesday July 17, however, after Amazon resolved many technical issues, the largest online retailer enjoyed a sales conversion rate 40 percent higher than the
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Amazon Cash is the latest payment method and feature supported by Amazon and was designed for the under- and unbanked. Consumers can request a barcode that is linked to their Amazon account, and when checking-out at a partner retail store location the customer can add between $15 and $500, using cash, which will become stored
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According to a recent study by Javelin Strategy & Research, issuers left $118 billion on the table last year by wrongly declining payment card transactions for suspicion of fraud, known as an ‘insult’ or false positive. Nearly 60 percent of these issuer false positives occurred at the physical point-of-sale and about two-thirds were for transactions
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The top 500 online retailers in terms of site traffic from social media earned $3.3 billion in revenue from social shopping in 2014 while a popular eCommerce platform shows that many of its small and medium merchant clients are increasing site visits and volume through multiple social media apps and sites as well. If you
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According to data from comScore, 13 percent of U.S. Internet users that visited retailers online did so only using mobile devices, including both mobile web and mobile apps. Meanwhile nine out of the ten largest online retailers in North America are seeing at least one-third of their digital traffic in the mobile channel, and at
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Social sharing sites Pinterest and Instagram each announced new features to reduce friction and convert more users into customers by adding buy buttons and other calls-to-action directly within advertisements or posted content on their respective mobile apps. Rather than follow links to start checkout directly on a merchant’s site, users will be able to make
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More and more consumers, as well as fraudsters, are browsing, buying and banking via their mobile devices. While this has benefited consumers with increased convenience it has also created new challenges for merchants, financial institutions and others that want to reach customers in the mobile channel, as they now must also manage new risks. In this feature article
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