How Retailers Can Fight Fraud and Delight Customers
Custom content for Pipl by studioID
Every retailer wants to avoid fraud – it’s incredibly costly after all. But what’s even more costly? False declines – 70 times more costly than the fraud itself. Not to mention the terrible customer experience it creates: A third of consumers say they would drop a retailer after a false decline and a quarter said they would share their negative experience on their social channels.
To keep customers engaged with your brand and protect your bottom line, you need to prevent fraud by looking for a rich network of trustworthy data points about your customers. Outdated methods rely on a single point of data to prove a customer’s identity, while modern practices instead look at multiple points and how they relate to each other. In our latest playbook, you’ll learn about it all, including:
How to think differently about verifying a customer’s identity
How to remove customer friction and frustration from reviews
The data points that demonstrate a transaction’s trustworthiness