Less fraud, more sales
Callcredit helps online retailers to combat fraud
Callcredit Information Group is supporting one of the market leading loss prevention conferences and urges retailers not to leave themselves vulnerable to card not present fraud.
The 'Retail Fraud on the Road' conference, organised by Retail Knowledge, begins on the fourth of October and with 25 exhibitors and more than 300 delegates expected, Callcredit is highlighting to retailers the importance of protecting themselves against fraud as well as improving the customer journey.
With even the largest and sophisticated of corporations falling prey to hackers and the theft of personal information, the challenge for online traders is arguably greater now that fraudsters can hide behind the relative anonymity that the internet offers. Cybercrime is a growing problem and online identification is an area of vulnerability for retailers with a total estimated fraud loss with the card holder not present a staggering £220.9m.*
David Fletcher, Business Development Manager, Callcredit Information Group said: "Preventing online fraud without slowing down the acceptances for legitimate purchases can be a difficult balance to strike. To combat fraud retailers are investing in new technologies to maximise fraud prevention and minimise false positives. The difficulty is if the verification process is overly cautious and time consuming retailers run the risk of deterring valuable customers. On the other hand, too little protection can leave the retailer vulnerable to charge backs.
"Callcredit has been involved in the 'Retail Fraud on the Road' conference for a number of years and we see it as a great opportunity to speak to retailers about their changing business needs. It's also great to network with the other exhibiting companies and to discuss the latest legislation, partnerships and innovations in e-commerce fraud prevention. We are looking forward to the event and advising retailers on how to make sure they know who they are selling to."
Held in Leicester at the King Power Stadium, the conference will showcase the latest developments in reducing retail fraud with the agenda including speakers from leading retailers including ASDA, Bernard Matthews Foods Ltd, McDonalds, TM Lewin, The Body Shop and Matalan. On the day, Callcredit fraud prevention agency will be on hand to discuss their online verification solutions and advise retailers on how to protect against fraud whilst improving the customer journey.
With online sales such an area of growth for most UK retailers it is important that along with thinking about fraud prevention that improving the customer journey is also considered. Internet retailers who engage with consumers across a number of channels are more likely to achieve success - according to McKinsey, consumers who use stores, catalogues and the web spend four times more than those who use just one.
For further information about the conference visit: http://www.retail-knowledge.com/RFOTR2012/index.html.
*Taken from the NFA's Anual Fraud Indicator, published March 2012.