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Price of False Declines — What Consumers Can Teach Us About Managing Fraud

What Consumers Can Teach Retailers About Managing Fraud

Webinar Date: October 1 @ 1 PM

Moderator: Pymnts.com

Presenter: Andy Freedman of Riskified

Topic:

Price of False Declines – What Consumers Can Teach Us About Managing Fraud

Session description:

Consumers get rankled when transactions get bumped due to “false declines” and CNP fraud concerns.  Recent industry research shows that 1 in every 6 (15%) U.S. consumers report having a transaction falsely denied due to fear of fraud last year, resulting in a total of $118 billion declined in 2014 alone.

Gen Y and high-income consumers are most likely to have their orders declined. They also respond strongly – with 1 in 3 falsely declined customers reporting they never purchase from the same merchant again.

Riskified’s Andy Freedman will join MPD CEO Karen Webster on Oct. 1 at 1 pm for a digital discussion that will delve into how retailers can keep good customers happy – while ensuring security as the all-important holiday shopping season looms.

In this session you will also learn?

  • The extent and business impact of “false declines” for online retailers.
  • How consumers react to having their order falsely declined due to fear of fraud.
  • Best practices to ensure good customers aren’t wrongly rejected while staying protected from CNP fraud.

DIGITAL DISCUSSION PRESENTER

Andy Freedman

CMO at Riskified

Andy Freedman is Riskified’s CMO, responsible for all marketing and strategic partnership activation.  Andy joined Riskified in March 2014 and brings extensive strategy and marketing expertise with broad experience across many industries.  Prior to Riskified, Andy held the position of VP, Strategy & Revenue at LevelUp, leading strategic ventures and partnerships.
Andy spent his early career building brands and high impact marketing campaigns with experience at several global companies including Visa, General Mills and Dunkin Donuts.  He received an MBA from the Center for Brand and Product Management at the University of Wisconsin-Madison and a Bachelor’s of Business Administration from Emory University.

DIGITAL DISCUSSION HOST

Karen Webster
CEO, Market Platform Dynamics 

Karen Webster is one of the world’s leading experts on payments, commerce and retail innovation and a strategic advisor to CEOs and Boards of multinational players in those sectors. As CEO of Market Platform Dynamics, she works extensively with the most innovative players in the payments, financial services, mobile, retail, B2B, digital media and technology sectors to help them maximize the value of their platform assets, design disruptive new business models and ignite and monetize new innovation. Karen also serves as a member of the advisory board for several emerging companies.

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Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

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