APIs & Integration
Documentation by Product Type
Merchant Account Administration
International markets and newer digital channels offer immense potential for French eCommerce businesses looking to drive revenue. A new study by CyberSource, a Visa Inc. company (NYSE: V), reveals that to make the most of these opportunities, merchants should focus on optimising their order acceptance and fraud management processes.
eCommerce in France is growing at around 20 percent a year (ComScore, Le marche du digital en France 2013), whilst across Europe online sales generated a turnover of 300 billion Euro in 2012 (EMOTA 2012) . As online sales have increased, merchants have also adopted various tools and processes to manage the risk of fraud – some more effective and efficient than others.
To understand how eCommerce firms in France could grow their revenues even faster through fraud management process optimisation, CyberSource gathered the views of well-established companies that, between them, represent more than a third of the French eCommerce market. Half the respondents generate annual online revenues in excess of 100 million Euros, and all operate across multiple markets in Europe.
The findings suggest that businesses should take a more holistic, end-to-end view of their fraud management processes:
- In total, 48 per cent of the merchants surveyed have a mobile-optimised website or app. However, less than half of them track their mobile channel for fraud; whilst under a quarter of businesses accepting telephone and mail order transactions monitor these channels.
- Nine in ten respondents (94 per cent) manually review suspect transactions, utilising valuable resources and potentially impacting the customer experience. Significantly, over two thirds (68 per cent) of reviewed transactions are ultimately accepted.
- A number of respondents were not able to supply key metrics and KPIs, including review rate; making it more difficult for them to understand the complete risk management picture and subsequently optimise their operations.
CyberSource advises merchants to optimise risk management practises as part of their eCommerce expansion strategy; improving automated screening, and using a combination of channel-optimised technologies– including more sophisticated validation and verification tools – helping to identify genuine customers faster, irrespective of their device or location, whilst identifying emerging fraud tactics more easily.
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Foster City, CA and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami, Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.fr.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 30,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit corporate.visa.com.