Merchants often give little thought to their order approval rates — and that could be a big mistake. If they’re not paying close enough attention, they might be declining more orders than they realize
On the surface, declining a lot of orders may suggest the merchant is doing a great job of stopping fraud in its tracks. But it may also mean merchants are declining good orders along with the fraudulent ones – which can indicate merchants have a problem with false declines. And problems with false declines typically lead to problems with lost revenue and angry customers… which no merchant wants.
The issue often starts when merchants don’t calculate their order approval rates correctly. An inaccurate number may mask underlying problems, and may leave merchants blithely unaware of what’s really happening with their orders.
Luckily, it doesn’t have to be that way.
Our new e-book, “Online Merchants: Stop Leaving Money on the Table,” walks merchants through everything they need to know about the order approval process. In the e-book, we show merchants how to safely approve more orders without increasing chargebacks, including:
- Why auto-declining orders isn’t a good idea. Not all orders that appear to be fraudulent actually are. We offer strategies for identifying more legitimate transactions and how that affects order approval rate calculations.
- How to determine if merchants have a false decline problem. Because merchants often don’t realize they have a false decline problem until the financial damage has been done, we offer suggestions for getting ahead of the problem.
- Tips for safely improving the order approval rate. We help merchants find the right balance of automated technology and expert human analysis to achieve two important goals.
- Steps for re-evaluating an online merchant’s current fraud prevention system. If a merchant’s current system isn’t doing its job, what solution — like an automated, an outsourced, an in-house or a managed services solution — would be better?
Smart merchants know that by understanding how well their order approval process is performing and by optimizing each step, they’re on the right path toward maximizing revenue and minimizing fraud and false declines.
To ensure you’re calculating your true order approval rates, download our e-book today. After reviewing it, contact one of our experts if you have any questions about your calculations or want to understand how well your business is really doing. We’ll be happy to walk you through the process and show you how our blended approach to e-commerce fraud management can help you improve your order approval rates and safely sell more.