It’s Time to Get Serious About Stopping Online Fraud
It is simply impossible to be an online merchant without encountering fraud eventually. Whereas brick-and-mortar stores invested in security in the form of CCTV cameras, locks, and alarm systems, today’s enterprise-level companies have the support of Ecommerce platforms that keep their businesses secure in ways that are specifically designed for the online world.
Keep reading to learn more about how Ecommerce platforms help your business get serious about identifying and preventing fraud from costing you time and money.
Automation and Experts at the Helm
Preventing fraud isn’t just about stopping fraud at all costs, it’s about stopping it at the lowest cost. Ecommerce platforms are designed to use automation where optimal to prevent fraud from occurring in the first place.
For example, the best ones offer Ecommerce fraud protection that gathers data across the platform to identify and weed out problematic consumers in advance, blocking them at the transaction level. This is the fastest and most cost-effective way to prevent fraud from draining your business.
However, some matters of security require an expert’s personal attention. That’s why industry-leading platforms have representment specialists who know when and how to fight chargebacks; with real security experts who know your business inside and out working on your behalf, you’ll have powerful recourse to advert the impact of fraud.
Having multi-tiered security involves multiple levels within the platform itself, but it also means partnering with other industry experts to form the thickest layer of security possible. The Ecommerce platform you entrust your business to should have integrations with multiple specialists in chargeback protection, fraud detection and management, and more.
When the platform’s experts are working in tandem with other industries, you’re assured of getting the most protection possible. Plus, you’ll get more cost-effective access to these third-party security integrations when you get them through the platform than if you used them on your own because they get a better-negotiated rate.
Flexible, Fast Security
The best Ecommerce platforms allow companies to tightly control and adjust their security parameters for each campaign or product. If the setting was always set to prevent as much fraud as possible, it would end up being excessive — fraud would be zero, but too many genuine sales would get canceled along the way.
Finally, the consumer should never feel the security working. The best Ecommerce platforms verify and authenticate all transactions in milliseconds, so consumers never perceive these processes, let alone object to them.
Consumer attention is a precious thing — it only takes a matter of seconds before they lose interest in a website. Don’t lose sales just because your security processes were too long or cumbersome.
Modern digitally native vertical businesses need to have powerful security that is also nuanced and flexible. The opportunities to make a splash in the online marketplace are enormous, but to stay fully secure in a way that optimizes your time and money, you’ll need the support of an enterprise-level Ecommerce platform.