Most CFOs don’t spend time thinking about fraud management – and that might be a mistake. The steps taken by your eCommerce operation to manage fraud directly impact your bottom line. An approach steered by fear of fraud will hurt business’ cash flow through lower approval rates – and on the flip side, an operation […]
Recouping lost revenue
Banks are Making Mistakes and You’re Paying the Price
Merchants selling online are, for better or worse, at the mercy of banks. Over 60% of all online transactions are conducted with a card, for which merchants must pay processing fees, and assume fraud liability. While these expenses are often offset by card users buying more, card transactions introduce a hidden danger that can hurt […]
News and insights
Five Ecommerce & Fraud Trends to Expect in 2019
In 2018 eCommerce evolved in some directions we expected… and others we didn’t. The holiday season rewrote the record books again – Black Friday sales in the US were up 23.6%, and, as of writing this, it looks like holiday season volume as a whole rose 20%. Regarding our cryptocurrency prediction, while bitcoin captured headlines last year, it had little […]
Recouping lost revenue
The European False Declines Problem (And How To Fix It)
Ecommerce is a critical cog in the European economy, and growing in importance. In 2017, European online sales grew 11%, and in 2018 they will grow another 13%, resulting in an annual volume of $602 billion Euros. But there’s evidence that this online market has the potential for even more robust growth. According to a 2017 […]
News and insights
Payment Declines in eCommerce – the $340 Billion Black Hole
We’ve written extensively in this blog about the scope and cost of false declines. Riskified estimates fear of fraud leads merchants to decline good orders at a total value equivalent to 5.5% of their annual online revenue. But false declines are only one leak in the payment funnel – most merchants don’t realize that around […]
Fraud Prevention
Fake Accounts & Promo Abuse Fraud: How it Works, How to Stop it
Suppose you’re a seventeen year old who wants to buy a bottle of vodka from the liquor store. The problem, of course, is that you’re underage, and the cashier is definitely going to ask for some ID. So you have two ways to beat the system: buy/steal the ID of someone who looks a bit […]
Fraud Prevention
Plugging Into Growth in Online Electronics Sales
Online electronics retailers have plenty to be excited about. Global eCommerce electronics sales are projected to surpass $300 billion in 2018 – a 10.7% increase from the previous year. But taking advantage of this surge in sales is not a given, and electronics merchants will have to adapt to meet the rapidly evolving needs of their […]
Account Protection
How to Prevent Account Takeover Attacks
Fraud is becoming more and more sophisticated, as cybercriminals try and keep a step ahead of fraud management solutions. This arms race is likely responsible for the recent surge in ATO – account takeover – attacks, a form of fraud which is particularly difficult to detect. In 2016 ATO led to $2.3 billion in losses […]
Recouping lost revenue
False Declines in eCommerce: 5 Legit Shoppers You’re Rejecting
In 2017, the average merchant had roughly 1.5% of their revenue consumed by false declines. These are orders that are perfectly legitimate, but end up being canceled by merchants who either have strict rules in place, or are just uncomfortable with one or more data point in the order. So who are the people most […]