<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=559746057746957&amp;ev=PageView&amp;noscript=1">
Nova call to action

Without data, CNP fraud protection could be out of reach


Without data, CNP fraud protection could be out of reach

Capturing and analyzing your sales and fraud data gives your ecommerce business real-time, dynamic information that helps you keep pace with rapid changes in the way fraudsters operate. Without this information, your fraud prevention strategies will fall behind. Here’s how to build an effective fraud management solution that is customized for your business needs.

For ecommerce players, preventing card-not-present (CNP) fraud is an ongoing challenge. But many of these businesses are leaving their most valuable fraud-fighting tools untouched. According to the 2017 True Cost of Fraud Study by Lexis Nexis, fewer than half of small ecommerce businesses track their fraud costs by transaction type. Even fewer track their fraud costs by channel. But that data can give businesses the real-time, dynamic information they need to fight fraud and keep pace with rapid changes in the way fraudsters operate.

The rising tide of CNP fraud affects the entire ecommerce industry, and certain verticals are more frequent fraudster targets. But each business has a unique risk profile based on its vertical, niche, markets, specific products, payment security practices, and other factors. The only way to build a truly effective fraud prevention system is to customize it—and the only way to do that is by thoroughly analyzing your sales and fraud data, particularly by channel and by transaction type.

For example, peak spending seasons vary by region. Europeans on holiday typically spend more in the summer, while in the US the peak season is November and December. Businesses can tune their models to expect higher transaction volumes during the typical peak season for the regions they sell into, and that can help control false positive rates. Tracking the data is critical to doing this effectively.

Click here to continue reading.

ClearSale Fraud Protection Buyers Guide

You may also like

Build the Career You Want with These Four Elements

Build the Career You Want with These Four Elements

AfterPay’s perk that could give them an edge in fintech

AfterPay’s perk that could give them an edge in fintech

Are your trusted holiday season customers who they say they are?

Are your trusted holiday season customers who they say they are?

Creative Ways to Get More Mileage from Your Data

Creative Ways to Get More Mileage from Your Data

CONSUMER DATA MIGHT BE THE NEW OIL, WHO GETS TO DECIDE HOW IT’S USED?

CONSUMER DATA MIGHT BE THE NEW OIL, WHO GETS TO DECIDE HOW IT’S USED?

How Effective Listening Helps Build Customer Relationships and Close Deals

How Effective Listening Helps Build Customer Relationships and Close Deals

How to Manage Your Company’s “Growing Pains” When It’s Growing Fast

How to Manage Your Company’s “Growing Pains” When It’s Growing Fast

ClearSale Welcomes David Fletcher as Senior Vice President of Sales

ClearSale Welcomes David Fletcher as Senior Vice President of Sales

EU regulations might help, not hinder, digital payment fraud

EU regulations might help, not hinder, digital payment fraud

Influencer insights: An interview with clearsale

Influencer insights: An interview with clearsale