For an online merchant, the most important measure of success is almost always the conversion rate: the more customers complete the checkout, the higher your revenues. But there is an equally significant metric that many merchants struggle with, that can impact your business: decline rates. Here are some ways businesses can combat credit card decline rates to ensure success.
Advances in technology enable us to do amazing things, among them the ability to buy almost anything you want online. With the rise of online shopping, we’ve seen an astronomical increase of personal data available online, and as a result there are now more fraudsters and thieves making careers out of stealing others’ data than ever. With small businesses, a breach could be catastrophic. Here is how small to medium-sized businesses can protect themselves from security breaches.
Fraud prevention provider Forter’s 2017 Fraud Attack Index, done in conjunction with the Merchant Risk Council (MRC), details the rate at which ecommerce fraud attacks increased in traditional retail verticals. The study found there was a 79% increase in ecommerce fraud for domestic holiday orders. See what else the study found.
To combat online fraud post-EMV, the Electronic Funds Transfer Association (EFTA) is calling for more stringent user authentication and urging industry stakeholders to push for wider adoption. See what else the EFTA found in terms of fraud and chargeback frequency, and what the industry is doing in response.
Social media is an invaluable tool for ecommerce. Shoppers turn to social media for both its common knowledge and advice before making a purchase. Here are what some of the masterminds behind some of today’s most popular social media platforms plan to make the ecommerce experience part of their platforms.
With many more people shopping online and by mobile than ever before, and hurried customer service during the busy holiday season, retailers need to be on the lookout for friendly fraud and investing in solutions to eliminate their risk. Here is what retailers should know during this busy time of the year.