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, then your top line revenue looks better.
But your bottom line may take a hit from all the unfiltered fraud attempts. Whichever side wins the tug of war will also have a real impact on 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 state of fraud prevention, which, in turn, can prevent sales.
This white paper, commissioned by Cybersource and produced by Aite-Novarica Group, explores how attitudes toward fraud management are changing. Rather than focusing solely on minimizing fraud losses, progressive companies are leveraging it to expand their business and maximize sales.
Key takeaways from the study include the following:
- Card-not-present (CNP) fraud continues to pose a business and financial risk to merchants.
- Weak passwords and password reuse across multiple sites provide fraudsters with easy access to online accounts.
- An emerging method to address CNP fraud is via orchestration hubs that bring together both account-level and transaction-level solutions into one cohesive system.
- Managing fraud is no longer a choice between either lower fraud or higher approval rates. Merchants are working toward balancing both.
- Fraud departments are being reinvented. Rather than a function within operations, they are increasingly working alongside finance, sales, and marketing to lower cart abandonment and drive revenue growth.
Cybersource offers a fraud management solution that accelerates good transactions, while stopping bad ones—so you can make way for more real business. Our solutions include:
More intel
Drawn from over 32 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.
More options
From a hybrid AI/ML and rules-based solution that you can design and test using our experts or yours, or both.
A more complete approach
From a truly integrated platform that handles everything from gateway capabilities and tokenization to risk management.
You may also be interested in
2022 Global Fraud Report
Learn how global businesses used fraud management techniques and benchmarks to protect their customers and business.
Remove the guesswork
Our automated solutions, powered by machine learning, can detect fraud in seconds.
Approve good orders, and reject the bad ones
Don’t lose business trying to balance your fraud controls with your sales goals.
Cybersource offers fraud management solutions that accelerate good transactions, while stopping bad ones—for businesses of any size.
Contact us to learn how you can make way for more real business.