As we slowly return to an in-person existence, one of the holdovers from the pandemic year of 2020 will be more online activity in general. Experts estimate that, despite historic gains in e-commerce in 2020, digital commerce will not settle back this year—in fact it will continue to grow, and fraud will grow alongside, as it always does.
With so many new entrants in the digital commerce space, inexperience showed up as increased chargebacks, growing fraud and new types of fraud attacks. CNP is taking part in the largest virtual retailer event in the U.S. this week. We have programmed a track of sessions that include discussions on chargebacks, evaluating antifraud technology and measuring fraud team effectiveness, dealing with false positives, and the growing problem of refund fraud, among others. Online merchants participating on in the sessions represent a wide variety of physical and digital sellers including eTix, Finish Line, Newfold Digital, Paciolan/Learfield IMG, Points Bet, Under Armour, and Wish.
CNP’s sessions ran live earlier this week, but will be available, along with more than 160 others, on-demand for the next 30 days if you register for the event. Live sessions are continuing this week through 3:15 p.m. ET on Friday, June 25. Check out registration options for NRF Retail Converge here.
Here are the CNP sessions available on-demand with registration for the event:
Whatever your business calls it—Inventory Not Received, Did Not Arrive, Did Not Receive, or something else—customer claims that they did not receive what they ordered online are exploding. Identifying why is challenging. It could be a supply chain issue or a newly emerging problem called "refund fraud"—and how you respond will impact customer experience and revenue retention. In this session you will learn how to diagnose the root cause of the increase in these claims (is it fraud or not?) and what steps to take.
So, you’re aware you have a fraud problem in your digital commerce operation and you’ve taken some initial steps to address it. But it seems like there are more questions than answers. There are steps every business can take to ramp up their efforts as e-commerce—and the fraud that comes with it—continues to grow in a post-pandemic environment. This panel examines KPIs that accurately measure your team’s success and how to evaluate antifraud technology—what kinds are available and what problems does each solve?
Chargebacks are an inevitable part of selling goods and services online. But the number of chargebacks your company receives and how much money you are able to recover through the rebuttal process depends on your internal policies, processes, and even the systems being used. In this session, our panel of experts will share some methods & strategies to reduce the incoming volume of chargebacks, as well as to optimize the response process to increase recovered revenue.
Sometimes a perfectly honest customer looks like a criminal to your fraud screening system. When you reject an order made by a legitimate customer, not only have you lost a sale, but you may have driven that customer away for good. Fighting bad guys does not mean increasing friction for your legitimate customers, though it often happens that way. Learn how to identify and measure false positives and technology that can help.