Viewpoint Joining up the
Akif Khan, CyberSource’s director of strategic initiatives and co-author of CyberSource’s 2013 UK eCommerce Fraud Report talks to A1 Retail about how retailers must join up back-end systems to stay secure in the evolving omni-commerce world.
eCommerce no longer means ‘web commerce’. Today’s consumers shop in an omni‐channel world, buying across multiple channels and geographic markets, and via multiple touch points, including mobile, apps, social media, interactive TV and, of course, the web. CyberSource’s 2013 UK eCommerce Fraud Report found that 41 per cent of retailers operate a mobile site, but 71 per cent of these only use the standard fraud screening used on their web commerce channel, even though it is separate. This is a major problem for retailers, as some fraud checks that work for eCommerce channels may be counterproductive, irrelevant and potentially misleading when applied to other channels, such as mobile. As the amount of channels retailers offer increases, the complexity and risk associated with the management of payments exponentially increases. What retailers really need to do is start joining up their back‐end processes. This can provide a single view of the customer and the who, what, where, when and how around their purchase behaviour, along with the ability to spot abnormal behaviour and prevent fraudulent activity
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across multiple platforms without affecting the customer experience.
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By taking a holistic view to managing the payments process providing customers
Fraudsters understand that there are gaps to exploit between payment channels and until retailers take steps to tighten those gaps they will be putting their business and their customers at risk.
However this requires an understanding of the demands and level of activity of each channel that retailers offer. Surprisingly, CyberSource’s recent survey revealed that as many as 18 per cent of retailers do not track fraud by channel at all. Fraudsters understand that there are gaps to exploit between payment channels and until retailers take steps to tighten those gaps they will be putting their business and their customers at risk. Retailers’ back‐end systems must be tightened up to begin to tackle fraud rates, and the first step is tracking activity across the different channels that payments are offered through so that anti‐fraud measures can be surgically targeted to the channel being attacked by fraudsters rather than bluntly across all channels.
with a seamless, secure and consistent checkout experience, whatever the channel, retailers can effectively, efficiently and securely future‐proof their businesses for the omni‐commerce world. The eCommerce landscape used to be straightforward, but now with so many channels to cater for and manage, retailers need to make sure they put forward‐ thinking measures in place so that they don’t fall short.
Contact
CyberSource T: +44 (0)118 990 7300 W:
www.cybersource.com
www.a1retailmagazine.com
A1
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