E-commerce revenues have grown faster than ever in the last few years. A big part of that is retailers’ promotional programs and the popular financial incentives they offer customers. But with that revenue growth has come a surge in promo fraud. One study shows large firms lose a combined $89 billion a year.
Customers abuse promo codes, free trials, referrals, coupons and loyalty programs. For example, someone might redeem a 50% off coupon multiple times instead of once, as intended. The legal consequences are rare.
In this infographic, learn the business impacts of online fraud and how retailers can mitigate the risks by:
Minimizing friction for legitimate customers with risk assessments starting at account opening.
Tapping both internal and third-party data to build a risk profiles.
Utilizing manual review as your last line of defense against suspicious transactions.