Payments in a Time of Social Distancing
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The rise in acceptance of alternative payment methods (APMs)—mobile wallets, eWallets, cryptocurrencies—comes with a new risk. APMs pose a bigger risk to online merchants than traditional payment types because they lack a standardized dispute process and basic policies and regulations that define and clarify usage parameters for all parties. Fraudsters know this and are quick to exploit these weaknesses.
Join Vesta’s Chief Product Officer, Hrishi Talwar and SVP decision science & analytics, Kevin Siegel, along with Nicholas Stipp, VP& GM Asia Pacific, of Ekata, a Mastercard Company, as they discuss the biggest challenges and opportunity areas for fraud in the APM space—and how to put a game plan in place that drives up approval rates and drives out fraud.
- Growing trends in adoption of APMs—and associated fraud
- How static rules don’t fit in an anything-but-static industry
- Strategies for increasing approval rates amid growing attacks
- Examples of ML/AI in fraud systems
The exploitation of merchant policies has become a growing global problem, with significant impacts on customers' experiences and the bottom line. In a recent survey, nearly half of U.S. shoppers admitted to taking advantage of retailers' policies to obtain goods through fraudulent returns, wardrobing, coupon fraud, and more.
Guest speaker, Andras Cser, VP and Principal Analyst at Forrester, joins Tasneen Padiath, VP Sales & GM, for Riskified APAC and Eyal Elazar, Riskified's Policy Domain Expert, to discuss this growing and costly trend.
We'll take a close look at:
- The differences between card-not-present (CNP) fraud and policy abuse (e.g., return and refund fraud, item-not-received claims, and promotional fraud)
- The long-term threats of unaddressed return fraud and policy exploitation
- Leveraging technology and data-driven insights to implement an identity-centric solution
- Finding the right solutions and partners to safeguard your business
As technology and fraud techniques advance, businesses need to move beyond traditional fraud detection techniques and incorporate user behavioral features to boost accuracy. In this double presentation, Agoda and Booking.com will share how they leverage behavioral features to detect fraud in the travel industry. Agoda will explore the process of generating behavioral features, the technology behind incorporating them into machine learning models, and some of the techniques used to amplify the difference between fraudulent and non-fraudulent behavior. Booking.com will share their approach to detecting fraudulent hotel listings, which includes a multi-stage machine learning system that monitors the behavior of new hotels as they onboard onto the platform . The models monitor hotel actions from the early stages of signup up until the hotel is live on the website and interacting with guests.
This presentation discusses the variety of markets included in APAC, how to prioritize efforts in the region, and common barriers that merchants and solution providers face. We will be sharing vital "war stories" and keys to success you won't want to miss if you considering expansion into this region.
Are you still on the fence about including alternative payments into your e-commerce stack?
Join Paypal, and Eric Liang, Co-founder and CIO at Spokeo, as they share lessons learned and recommend some best practices on how merchants can successfully incorporate alternative payments into its payment systems. Using the partnership between Spokeo and Paypal as the case study, the pair will highlight what worked and pitfalls to avoid that enabled Spokeo to achieve a 25% lift in conversions and 14% increase in net new customers.
Key Takeaways include:
Learn about Spokeo’s business model and how Paypal has become a vital alternative payment method to Spokeo’s legacy payment platform
Understand how Spokeo implemented Paypal by conducting a controlled A/B test in its acquisition funnels to avoid upsetting current payments performance
Find out what metrics to track and analyze in order to quantify the true impacts of the Paypal A/B test
Hear how Spokeo used Paypal’s built-in fraud detection system to reduce costs by eliminating duplicative fraud tools
Find out how Spokeo discovered and reached a new customer segment with Paypal that are privacy minded & risk averse to having their credit card information potentially breached
Alternative Payments do not only provide consumers with more choice, but they also increase your revenue by expanding your audience.
As vertical software vendors and platforms continue to embed financial services into their platforms, these businesses are becoming increasingly responsible for supporting products and services outside of their core products and operations. Even with the help of partners that provide these services, businesses often have to adapt their organization through new roles and responsibilities, processes, and policies to enable use cases and areas of focus like payment facilitation, risk mitigation, compliance, card issuance, and lending. This presentation will draw from platforms that have embedded financial services as well as select technology providers that provide the technology.
Ultimately, in the world of payments, success depends on human factors, like how consumers perceive and respond to risk, reward and effort.
Against this backdrop, Token surveyed over 1,000 people across Europe about the attitudes, preferences and behaviours shaping their financial and digital lives.
Token presents: "Who Will Pay by Bank" a data-driven look at the human element that will fuel the future of open banking payments.
A glimpse into this report:
- Learn which consumers are paying by bank today and where will we see demand tomorrow
- Discover the behaviours and opportunities that could support continued uptake of account-to-account (A2A) payments
- Understand how consumers in Europe perceive the benefits of A2A payments and other payment methods on a country-by-country basis
- Uncover how consumers understand open banking's evolving role in their lives
- Read commentary from the Open Banking Implementation Entity, Open Banking Expo, American Express, Ban
Consumers want more options for how they shop and pay. For merchants, how they handle everything from mobile and online channels, fraud management, and even things like loyalty rewards and digital offers are becoming more intertwined. In this webinar, Ethoca’s Brett Small, General Manager, APAC, will explore how merchants across the Asia-Pacific region can better balance their digital customer experience while helping reduce fraud and friction.
In November 2022, the second How Southeast Asia Buys and Pays 2022 Report was published.
Consumers are changing how they discover, try and buy products and services. This colossal shift has resulted in companies reimagining what they do, how they do it and who they partner with to create lasting and revenue-driving customer relationships. Every industry is going through these changes and investing in new shopping models: Direct to consumers, marketplaces, connected cars, value-add healthcare and new technology platforms including localized drone delivery and vending machine innovations. These changes have a pace and complexity that’s driving tremendous value up and down the value chain.
While companies are investing in digitization and innovation, many are asking about the ROI and monetization potential of these new shopping models. The answer isn’t simple, but brands of the future will separate themselves from brands of the past by solving for the unique needs of each service provider in their ecosystem – and particularly their payment needs.
In the current operating environment, with economic growth slowing and interest rates rising, it is more important than ever for businesses to develop alternative revenue streams. That’s not only about meeting your customers wherever they are, but making those engagements as seamless as possible. One way to do this is through frictionless payments options or by embedding helpful financial services directly in the user experience. The goal is to first connect with customers, and then make their journey as intuitive and convenient as it can be. In this issue, we look at how commerce is evolving. There has been a major shift, with new kinds of online marketplaces transforming almost every industry, as our feature starting on p.26 explores.
This whitepaper begins with a snapshot of PSD2 and summarizes the directive's main changes, focusing on SCA. After highlighting how SCA will affect financial services companies, the paper examines how biometrics can meet SCA requirements while avoiding unnecessary friction. The document concludes with an overview of Nuance's biometrics solutions.