Take a moment to evaluate your fraud management system, used to detect and prevent fraudulent transactions online.
You could be wrongfully turning away legitimate sales. Known as false positives, overzealous online retailers are losing money in their bid to reduce the risk of fraudulent transactions.
Just because you’re an online retailer doesn’t mean you accept card-not-present fraud as a cost of doing business. You need a solution – but how do you sort the good from the not-so-good?
Australia’s track record on getting businesses paid on time is increasing insolvency risk, which then compounds the problem. It’s time we break the cycle.
Fraudulent transactions are on the up, but with more information and tools at their disposal, online and multichannel retailers need to get up to speed if they’re going to stem their fraud losses.
Not only are Australians quickly moving towards a cashless society, it appears consumers are also doing their best to avoid credit card payments – and the knock-on effects are already being felt.
With an increasing trend of businesses taking ‘card not present’ payments online, MYOB has partnered with The ai Corporation to deliver an industry-leading payment gateway that actively works to detect and protect against fraudulent activities.