This Holiday Shopping Season, GO BIG!
2021 is projected to be the biggest holiday shopping season ever — is your business ready? Total holiday sales are expected to reach up to $1.3 trillion from November to January, with the second-highest growth rate in over two decades. As demand increases for digital purchasing options, e-commerce is expected to grow even faster.
With the rise in sales, inevitably comes a rise in fraud. Over 75% of respondents in a recent survey of 650 organizations reported increases in fraud attempts from 2019-2021. Of the $428 billion in merchandise returned in 2020, $25.3 billion was lost to fraudulent returns.
Card-not-present transactions are more susceptible to fraud, chargebacks, and customer dissatisfaction in the payments process. With record revenues on the horizon (and on the line), maximize your profit and minimize fraud with Verifi’s Total Dispute Management suite of solutions.
Overall holiday sales are forecasted to grow by 7% —the highest rate in over two decades1
Of the $428 billion in merchandise returned in 2020, $25.3 billion was lost to fraudulent returns
PREVENT
Enhanced transaction data helps prevent disputes at customer inquiry. Prevent friendly fraud and validate legitimate sales.
RESOLVE
Resolve disputes in real time at the pre-dispute stage. Configure our auto-decision engine to refund disputes before a chargeback happens.
RECOVER
Recover revenue lost to chargebacks. Our experts handle dispute representment for you, maximizing chargeback wins and recovery.
INFORM
Receive fraud and dispute notifications from a single source to protect against known fraudsters and prevent future disputes.
Sources:
https://www.bain.com/insights/2021-holiday-shopping-outlook-infographic/
https://www.cybersource.com/en/solutions/fraud-and-risk-management/fraud-report.html
https://nrf.com/media-center/press-releases/428-billion-merchandise-returned-2020
https://www2.deloitte.com/us/en/pages/about-deloitte/articles/press-releases/deloitte-holiday-retail-sales-expected-increase-seven-to-nine-percent.html
