Besides the high pressure to innovate – such as to prevent bot purchases and avoid the general danger of the misuse of credit card data, the Covid 19 restrictions have resulted in high order volumes and new shipping processes, which in turn lead to increased fraud and identity theft in online retail. The entire e-commerce sector faces the challenge of dealing with fraudulent orders in order to minimize the associated costs and maximize the purchase experience for genuine customers. Our customers in e-commerce use a wide range of technical solutions to prevent fraud.
AI-based engines work effectively when there is a high volume of data.
Database reconciliation and identity checks protect end customers from the consequences of data theft. Credit checks can obtain data for offering the customer the most appropriate payment methods already during the shopping process. In short: a highly coordinated interplay of providers from the payment universe is key to preventing fraud and achieving optimized conversion. Technical automation allows up to 90 % of all orders to be checked for fraud, while the leading e-commerce merchants count on case management for the remaining 10 to 15 %. This way, the checkout process remains quick and convenient, and customers are not deterred from purchasing by additional hurdles. What’s more, no delays arise before the customer can receive their desired goods at home.