Today’s online consumers have high expectations – and number one among those expectations are fast, easy and safe checkout experiences. Every e-commerce merchant wants to deliver this. But what happens when your fraud protection solution gets in the way?
As card-not-present (CNP) fraud levels increase, your revenue is on the line. Unfortunately, many merchants are not aware that their fraud solution may actually be creating a bigger problem than fraud.
False declines – also called false positives – cause merchants to lose 13x more revenue than fraud. These losses don’t show up on your income statement, but they’re real losses, and they’re significant.
That’s where ClearSale and Aite Group can help.
A new report titled “The E-Commerce Conundrum: Balancing False Declines and Fraud Prevention,” commissioned by ClearSale and produced by Aite Group, provides important data on the state of false declines in e-commerce. Notably, the report outlines key benchmarks merchants need to monitor to minimize false declines.
On Thursday, October 10 at 2 p.m. ET, you can explore this data and benchmarks in a live webinar: False Declines in the Age of E-Commerce: Everything Merchants Need to Know.
Presenting the webinar will be Julie Conroy, research director for Aite Group, Rafael Lourenco, executive vice president at ClearSale, and David Fletcher, ClearSale’s senior vice president of sales.
The panel will explain why CNP transactions are disproportionately impacted by false declines and why false positives are such an expensive problem. The experts will also elaborate on the key insights, including:
- Why most merchants experience false decline rates of between 1.1% and 5%
- The most popular tools for tracking false declines, including one that’s used by 80% of merchants
- The percentage of manual reviews that are approved
- Where false declines most commonly originate (hint: merchant decisions make up only a small percentage of the source of false declines)
While 79% of merchants surveyed recognize that false declines are an industry problem, they are also beginning to understand that their approach to approving/declining orders may be the root of the issue. In fact, more than half of the merchants surveyed said their fraud prevention solutions automatically decline as many as 7.5% of their transactions.
To help address this issue, the October 10 webinar will also cover smarter fraud strategies merchants can adopt, such as manual reviews, IP address verification and chargeback protection.
If this sounds like the information you need to balance your revenue, fraud prevention and customer experience, mark your calendar now and reserve your spot today for this free live webinar. It’s information you simply can’t afford to miss.