Payment authorization failures give merchants such a headache, costing them loyal customers and $600 billion in revenue. It’s not a problem easily solved, because merchants have only limited control over authorization decisions. The vast majority of declines are made by card issuers and payment gateways. Merchants have a difficult time understanding the root of the […]
Customer Experience
Customer Experience
Payment Declines: The $600 Billion Problem You Aren’t Aware Of
eCommerce businesses spend most of their budget on customer acquisition, focusing on getting consumers to hit the “buy” button. While failing to reach the proper target audiences in the appropriate channel tends to be one of the biggest factors contributing to acquisition leakage, another looming threat, the problem of payment declines, is often overlooked. According […]
Customer Experience
Fulfillment Will Matter in 2021. Are You Ready?
Fulfillment has become a top priority for customers. According to Shopify, 67% of U.S. consumers expect either same-, next-, or two-day delivery. Click-and-collect commerce is also on the rise and is forecast to top $64 billion in 2021. Around the world, businesses are prioritizing fulfillment to meet this demand – evident in the arms race […]
Customer Experience
The Elephant in the Room: False Declines Send Customers Packing
**All details have been anonymized. Alice** was buying furniture for her move to New York City. After a full day of price comparing, reading reviews, and calculating the right measurements for her new apartment, Alice decided on her purchase. At 5 pm, she ordered a $200 couch and a $300 mattress from a retailer we’ll […]
Customer Experience
Ecommerce 2021: Rethinking Digital Challenges & Opportunities
Forrester indicates that 27% of brands improved their CX Index score in 2020 – a notable jump. But the crisis made clear the gap between customer experience leaders and the laggards: 70% of the most digitally mature companies significantly outpaced their competition. To build up resilience and drive recovery in the long run, eCommerce merchants must […]
Customer Experience
3 mCommerce Trends To Watch in 2021
Traditionally, customers preferred browsing shops on mobile but completing purchases on desktop. Now, that monetization gap is closing as new technologies make mobile shopping more streamlined and widely accessible. It’s early 2021, and most of the world is still living in a pandemic state, with both customer behavior and business planning already greatly influenced. People […]
Customer Experience
Survey Says?! ATOs Are a Major Threat and Many Merchants Are Unprepared
Despite the amount of virtual ink that has been spilled discussing ATOs and their impact in recent years, we found a surprisingly large percentage of merchants aren’t taking them seriously, with 27% of all merchants reporting that they don’t have measures in place to prevent them. That may explain why 35% of merchants report that […]
Customer Experience
How Airlines Can Maximize Success in 2020
2020 will be a critical year for airlines. The COVID-19 pandemic wreaked havoc on the entire travel industry, bringing it to complete standstill in many places. While there’s no doubt the world will recover and normal life will resume, it’s difficult to assess when this will happen, and what the economic outlook will be. Our […]
Customer Experience
Infographic: What Europe really thinks about PSD2
PSD2 has led to a period of uncertainty for online merchants and consumers alike. To find out more about their concerns, Riskified commissioned a survey in 2019 of 2,000 consumers and 200 retailers evenly split across the UK, Germany, France, and Spain. Elena Lerman, one of our talented in-house designers, has turned the results into […]