Merchant Risk Council 2021 Annual Member Meeting
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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
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.
- Highlights the ways in which Southeast Asia is poised to be at the forefront of growth and innovation over the next few decades.
- Showcases how digital transformation has become a top priority in a post-pandemic world, and how this is expected to pave the way for innovation in sectors such as digital payments
- Explores the ways regulatory authorities have helped to foster a thriving scene and continue to be essential in powering eCommerce / digital payments growth
Against a backdrop of the Covid-19 response/fallout, geo-political conflict, rising inflation, and an energy crisis, consumers and merchants face an uncertain payments landscape.
This presentation explores some of the best practices in merchant – acquirer relationships to ensure merchants are best prepared to handle any future uncertainty and maximize opportunities as they arise in this increasingly unpredictable world.
Alternative payment methods continue to expand in importance and volume globally, and though this provides a wide spectrum of opportunities for merchants, it also means new fraud attack vectors to contend with.
This presentation explores the methods fraudsters are using to attack alternative payment providers through real-world examples, and the solutions businesses can implement to proactively prevent and combat payment fraud.
The MRC surveyed its members to understand the current state of careers across the global Payments and Fraud sectors.
Key takeaways include:
- Age does not determine the level at which you can work in an organization. Those between 20 and 30 years of age are working from analyst level all the way up to VP and Director level, while those over 50 years report working in every role from entry level to CEO.
- The majority of respondents, across all levels, are earning between $65k and $90k. 18% earn more than $175k.
- Women do better in roles paying between the $22k -$100k bracket in manager/ supervisor roles.
- Remuneration versus company type -the majority of those working for solution provider companies are earning $44k -$80k, the next highest earners in this category earn $175k+.
- The highest earners in merchant organisations earn between $65k and $90k. 15% earn $175k+.
- More women than men aspire to attain a leadership/ senior management role.
- Half of respondents are happy in their roles and have met their career expectations. The other half wishes to continue their career growth. This is across all age groups. Those who are content in more junior roles tend to prioritise a good work/ lifebalance.
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.
Join LiMeng Lee, Chief Strategy Officer at Razer and MRC APAC Advisory Board Member, and Gene Yu, CEO of Blackpanda (a cyber crisis management firm that offers top-tier cyber-attack containment and investigative services in the event of a data breach) as they demonstrate the importance of having a cybercrime crisis management or incident response plan in place before the incident or event occurs.
LiMeng and Gene will highlight the necessary steps which should be undertaken to set up your incident response strategy, they will also highlight the immediate activities which should take place in the wake of an incident occurring.
The viewer, upon listening to the webinar, will have a basic understanding of the importance of implementing the prevention plans outlined, and were recruiting a third-party consulting company to assist in setting these plans up can help.
In this edition of the interview series My Path in Payments, Checkout.com spoke with Rakhi Seth-Forrest, VP of Global Fraud & Payment Operations at Warner Bros. Discovery. Rakhi spoke to us about how she and her team tackle payment fraud, her passion for creating a thriving team culture, and her drive to enable innovation in her industry.
In this edition of My Path in Payments, Checkout.com talks to Colleen Graneto about her work at Airbnb, her passion for building products that help money move, and her experience with payments as a small business owner. My Path in Payments is Checkout.com's interview series documenting the candid insights and diverse perspectives of modern payments leaders.