Common Sense Virtual Roundtable:

The eCommerce Dilemma: Stopping Bad Actors while Approving Good Customers

May 19th, 2022, 10 AM – 11 AM CT, Successfully held

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Presented by

Ekata

Here’s what we discussed:

eCommerce has boomed over the past two years – as have the challenges merchants face. Fraud and chargebacks continue to hurt retailers’ bottom line, but so are changing consumer habits. Online stores are experiencing increased cart abandonment due to friction in the transaction process.

As merchants fight for consumer loyalty, they must balance their fraud management solutions without placing hurdles in the way of good customers. Manual review continues to be the last line of defense for spotting risky transactions. But it can also help to clear good customer orders faster. Through global authoritative data and analysis of billions of real online transaction behaviors, intelligent manual review solutions provide a holistic approach to decreasing losses and increasing revenue.

During this roundtable we learned:
  • The current changes in the chargeback landscape (e.g. every dollar lost in a chargeback costs merchants 2.4x the item price)
  • The latest trends and evolutions in eCommerce fraud activity
  • Strategies to address these fraud issues and reduce customer friction

Solution Expert

Jordan Reynolds
VP of Growth & Market Strategy at Ekata
LinkedIn

Here is what we learned:

Mary Chen, Program Manager – Global Payments & Fraud, Warner Bros Discovery

• Mary said Warner Bros Discovery sees fraud detection in several countries. They do not use 3DS, and it only works in Europe for certain merchants. They offer subscription services so friction is not an issue.
• Fraudsters will have a way around it regardless of the merchant.
• Determining a reason code can be hard when it comes to subscription services.
• Constantly A/B testing providers is the only way to know what vendors and solutions are going to work for your company.

Chinedu Ezeamuzie, Sr. Principal Program Lead, Chick-fil-A Corporate (Little Blue Menu)

• Chinedu joined the session to learn more about the payments space and how to prevent bad actors.
• The company launched in 2021 so there was no pre- and post-covid baseline. They intentionally built their stack to tackle what they couldn’t with the Chick-Fil-A stack.
• Chinedu asked for a definition of return fraud.
• Chinedu asked if tracking shipping codes and demanding a signature could help.
• A database of IP Addresses and device IDs and be used to build a database to determine what a fraudster could look like.
• Could something in a tag be used to determine if a garment has been washed? It could cost less than a third-party review.

Request detailed session notes

We are careful about who we send this key document to. The session notes will be sent based on the request, provided your profile matches our qualification criteria.

About Ekata:

Ekata provides APIs and a SaaS solution built around five core identity elements: name, phone, email, address, and IP to help you assess risk in all types of online interactions. These include fake account creation, payment authentication, transaction fraud and manual fraud review.

Participation in the Virtual Roundtable is free of charge to qualified attendees. Once you’ve completed the registration, we’ll confirm your invitation and send you a calendar invite with a link to the meeting.

If you don’t qualify, we’ll suggest other learning events that may be a better fit for you.

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