If you sell products online, you’re vulnerable to card-not-present (CNP) fraud. It doesn’t matter how long you’ve been in business, how large (or small) your organization is, or what you sell. Fraudsters are always on the lookout for new ways to defraud businesses and their customers, putting you at an increased risk of lost revenue, a damaged reputation, and a revoked or high-risk merchant account.
All this may make it feel like CNP fraud is just an inevitable part of doing business online. But it doesn’t have to be, if businesses know how to launch a successful defense.
One of the most important components of a proactive approach is a regular CNP fraud risk assessment to help e-commerce merchants evaluate and improve their fraud prevention process. The assessment doesn’t have to be complicated or take up significant time and resources — merchants just need to follow this simple three-step approach to understand their true fraud risk profile:
- Identify leaks in the fraud management system that let fraudulent orders slip through the cracks.
- Identify blockages in the system that falsely decline legitimate orders.
- Measure and analyze the fraud management process to understand how well the system is performing.
Let Us Help You Assess Your CNP Fraud Risk
Merchants who find themselves overwhelmed with these day-to-day operational tasks may benefit from having a trusted partner perform this routine — but essential — risk assessment and objectively evaluate how well the merchant’s fraud prevention service is working for them.
Over the course of 15 years, ClearSale has helped a diverse group of more than 2,500 businesses do just that. Along the way, we’ve also developed best practices we believe every e-commerce merchant — regardless of size, experience or location — should follow. We’ve incorporated those lessons learned into our latest e-book, “How to Understand Your CNP Fraud Risk and Optimize Your Fraud Prevention Process”, where we break down each of the three steps into actionable to-do items and help you evaluate your e-commerce fraud management system.
Download our free e-book today to learn what your card-not-present fraud prevention solution is doing well, what mistakes it’s making, and make corrections to ensure you’re maximizing revenue and building customer loyalty.