Ecommerce Fraud Education
Our eCommerce fraud education hub aims to highlight eCommerce fraud prevention challenges and opportunities. Learn about various manifestations of eCommerce fraud. Gain insights into pros and cons of key approaches to eCommerce fraud protection and get tips for chargeback prevention.
With cross-border sales on the rise, it’s becoming increasingly important for eCommerce merchants to extend their offering far and wide, and to provide international shoppers with a positive customer experience. From accepting international credit cards and currencies, to accounting for different shopping behavior and CNP fraud trends, retailers should be adapting their strategies to cater to global markets.
Riskified works with a diverse group of international retailers, allowing us to gain valuable insights into the risks and benefits of selling overseas. The following articles provide merchants with information on how to increase their chances of successfully tapping into some of the world’s most lucrative eCommerce markets: Make the Year of the Rooster a Prosperous One; Risk and Reward in the Indian Market; The Middle East: An eCommerce Oasis; and The Case Against a Cyberwall with Mexico.
mCommerce, or online sales made from mobile devices, is likely to become the preferred digital shopping method of the future, thanks to its appeal to young shoppers, and the large number of consumers in emerging economies accessing the internet via mobile devices. This means that online retailers need to offer an optimized, seamless mobile shopping experience. Part of this is adapting CNP fraud review processes to suit mobile shopping patterns and ensure they aren’t causing false declines and adding friction to the checkout process. Read our report on CNP fraud in mobile sales to get actionable tips for better managing mobile transactions and effectively distinguishing between fraud attempts and legitimate orders.
Many online retailers don’t realize that more money is lost to wrongly declined shoppers than to actual CNP fraud. There’s no simple way for eCommerce merchants to determine how many orders are falsely declined. But there is a range of measures they can take to minimise false declines and improve the customer experience, from accepting all payment methods, to eliminating rigid fraud filters, and ceasing automatic rejection of ‘risky’ orders (e.g. data mismatches or orders from certain geographies).
For more information on understanding the impact of, and reducing false declines, we have a number of resources available to merchants: The True Cost of Declined Orders; How to Avoid False Declines; Making Sense of Mismatches: An eBook for Online Retailers; and Overcoming False Positives: Saving the Sale and the Customer Relationship.