One of the ongoing concerns of multichannel retailers remains fraud and customer theft. A new report from CyberSource showed that fraud rates for online retailers in the United States and Canada remained steady at 0.9% in 2010 for the second year in a row.
The good news is that retailers are continuing to get a better grasp on how best to mitigate fraud resulting from their ecommerce site, even during high volume periods like this past holiday shopping season.
CyberSource estimates that online fraud cost retailers an estimated $2.7 billion in 2010, down from $3.3 billion in 2009. This is due to retailers becoming more aggressive about rejecting suspicious orders. According to CyberSource, North American online retailers rejected 2.7% of orders in 2010, up from 2.4% in 2009.
While the threat of fraud will obviously never go away, retailers should continue to invest in solutions to help them manage the risk. At Blueport Commerce, we have developed extensive fraud intercept solutions embedded into our platform. A collaborated effort of our technology and staff monitor each order that comes in through our clients’ ecommerce stores, intercepting fraudulent orders before they are even processed.
Copyright 2010, Official Blog of Blueport Commerce
The good news is that retailers are continuing to get a better grasp on how best to mitigate fraud resulting from their ecommerce site, even during high volume periods like this past holiday shopping season.
CyberSource estimates that online fraud cost retailers an estimated $2.7 billion in 2010, down from $3.3 billion in 2009. This is due to retailers becoming more aggressive about rejecting suspicious orders. According to CyberSource, North American online retailers rejected 2.7% of orders in 2010, up from 2.4% in 2009.
While the threat of fraud will obviously never go away, retailers should continue to invest in solutions to help them manage the risk. At Blueport Commerce, we have developed extensive fraud intercept solutions embedded into our platform. A collaborated effort of our technology and staff monitor each order that comes in through our clients’ ecommerce stores, intercepting fraudulent orders before they are even processed.
Copyright 2010, Official Blog of Blueport Commerce
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