Blog | Industry Insights
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Prevent credit card declines from loyal customers
For SaaS, app, telco and other subscription-based businesses, there is nothing worse than losing a loyal customer to credit card decline. Fraud prevention is important not only to immediate bottom line, but also to a business’ reputation. Some credit and debit cards are always going to be declined in the name of fraud prevention. What…
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Balance front-end and back-end fraud protection for total chargeback protection
When thinking about total chargeback protection, pre-sale fraud prevention tools are important – and essential. But even with increased risks and vulnerabilities during the holidays , merchants should take care not to overreact when it comes to boosting front-end protection. Too much pre-sales fraud prevention can quickly translate to reduced conversions – no one wants to…
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Holiday fraud prevention strategies
2013 and 2014 were a devastating years for retailers hit by data breaches. Given the size of the retailers targeted and the ease with which hackers were able to steal valuable data, it’s no surprise that consumers are skittish about returning to retailers that were breached. According to The Fraud Practice, 45 percent of cardholders said they…
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Omni-channel considerations for preventing holiday fraud
2014 is a big year for Omni-channel as retailers begin to expand across channels. In a National Retail Federation study almost half of shoppers that responded plan to finish holiday shopping in the first three weeks of December. During these crunch times, online and brick-and-mortar stores are in tough competition with each other. In general,…
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Understanding Chargeback Myths and Realities
What are some of the most popular chargeback myths that will keep me from boosting profits this holiday season? Fighting chargebacks can be a time-consuming and resource-draining task for merchants. Compound that with the already-busy holiday season and merchants can find themselves underwater quickly, lacking the necessary resources and knowledge to protect payments. Debunking common…
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Retailer priorities – Protect customer data
Protect customer data eBay conducted a survey of more than 1,000 online retailers to see their investment priorities for the holiday shopping season this year and found that “customer-facing” tactics won out over strategic infrastructure. Online merchants will focus on price, marketing and customer service in 2014 with the collection and protection of customer data at…
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Fine-tuning in-house chargeback management for the holidays
There are a number of best practices merchants can follow to improve in-house chargeback management In order to effectively prevent fraud and chargebacks as well as effectively dispute those that do occur and protect hard-earned holiday sales. Many consumers who initiate chargebacks do so out of convenience. Simple things like obtaining authorization for the exact…
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Device Fingerprinting
Do You Know Who You’re Doing Business With? Verifi’s Frank Stornello, Chief Marketing and Strategy Officer writes on Branden Williams’ blog that fraudsters are becoming more sophisticated with their identity theft tactics, and how they use the information to make fraudulent purchases. But their resources are nevertheless limited. They can easily change email addresses or…
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Tips on Fighting Friendly Chargeback Fraud
Need advice for friendly chargeback fraud protection? Financial Web suggests including requiring signatures, using verification codes, making customer service easily accessible, sending banks clear billing descriptors, sharing blacklist databases and implementing an easy return policy. Merchants should not, however, include so many before-purchase security measures that customers become frustrated. Solutions that are as effective if…
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Your Fraud Prevention Feedback Loop and Chargebacks
How do you know how much fraud prevention is enough? Payment fraud if a rampant problem on the internet that is only expected to grow. As fraud prevention strategies and technology improve so does the sophistication of fraudsters. Merchants need to act before fraud happens, but not entrench themselves in set solutions. Jeremy Waxman, our…
