As we head into spring, the issues challenging merchants that accept e- and m-commerce payments remain thorny. And, as always, at Card Not Present we advocate information sharing and education as the best ways to attack those challenges. The agenda for CNP Summit is taking shape and it features a great mix of experts tackling a variety of fraud and payments issues. This year, our top sessions will cover new areas and some golden (but still problematic) oldies. Here are five sessions planned for our educational agenda in May. As we get closer to the event we will feature more. If you are experiencing any of these problems, we hope you come to CNP Summit to learn and share.
No 5: How to Fight Fraud When Your Customer is the Weakest Link
More and more often, the types of fraud plaguing merchants most originate with their customers. Consumers are being scammed into buying thousands of dollars in gift cards that are being turned over to fraudsters; they are reusing passwords so much ATO has become industrialized; and they are being phished and socially engineered in countless ways. These tactics are challenging to identify and counteract because the point of vulnerability is the consumer, not the merchant. What can merchants do to reduce these types of attacks? Should they invest in more backend tools and resources, try to educate their customers about scams they are falling prey to, or something else? Experts on our panel weigh in on this sensitive issue.
No 4: The Context of Content
For online companies that allows users to post comments or reviews, post items for sale, or interact with each other on their platform, content moderation is critical. It will affect compliance of COPA, GDPR, AML and other regulations, not to mention the trust and safety of users. But what are the best user rules, content moderation tools, strategies, etc.? And how do you balance the use of technology and humans to ensure users are abiding by your policies? What is the best way to ensure support for those on your team that may have to view offensive and sometimes illegal content? Trust & safety veterans on our panel will look at this growing area of concern in the digital commerce world.
No 3: Installment Payments in the US: The Good, the Bad, the Ugly
Installment payments are an increasingly popular online alternative payment method in other countries—especially Latin America. In the last two years, though, they have started become popular in the U.S., as well. But, to offer installments, what payment acceptance rules does a payments manager need to consider? What contract terms are typical? And what risks should the fraud manager take into consideration? In this session, panelists who have successfully integrated this payment method into their checkout page will share what they've learned and provide tips for merchants considering the offering. Providers who offer these services will also participate to share data around conversion increases and acceptance norms.
No 2: How to Win Friends and Influence People—In the Fraud World
One of the biggest challenges for trust & safety and fraud teams in e-commerce organizations is to advocate for themselves and be championed throughout the company. They might not call you "sales prevention" to your face, but it’s likely that corporate leadership or other departments in your organization misunderstand your role and intentions. How can you convince them that trust & safety/fraud is an epicenter of business intelligence ensuring more revenue stays within the company by reducing and responding to chargebacks? In this session, panelists who have turned around the reputation of and respect for their teams within their own organizations will share some of their secrets. You will leave this session with strategies that can help you change the perception of your department, hopefully leading to increased respect, resources and a seat at "the table.”
No 1: The Many Faces of Friendly Fraud
More than a decade ago, the term "friendly fraud" was invented to describe when a cardholder participates in a legitimate transaction, but then initiates a chargeback. Since its emergence, it has not only become a much bigger problem, but has also taken on many different forms: buyer's remorse; a family member using a cardholder's card; and more malicious schemes. In this session, panelists will discuss the different types of "friendly" fraud they are seeing, what are they doing to discourage and reduce each type, and how to attack the chargebacks associated with them.
