Policy abuse poses a significant challenge for merchants. According to a PYMNTS Beyond e-Commerce Fraud Report, merchants lose $89B annually to policy abuse, which continues to rise year-over-year. This is a significant loss, but merchants are often unaware of the magnitude of their abuse problem or how to most effectively block serial abusers without negatively impacting trustworthy customers.
The Challenge
Merchants are stuck — if they apply policies that are too strict, they create a poor customer experience, but policies that are too generous result in a significant revenue hit and lost profit margins. Striking the right balance between these two seemingly opposing forces can be nearly impossible without the right tools in place, and doing so requires merchants to implement a solution that delivers the following:
- Uncovers the magnitude of their abuse problem and accurately detects abusers.
- Unlocks complete visibility and control over their holistic abuse strategy and impact on business performance.
- Put their fraud and risk team in the driver’s seat to optimize — and ultimately personalize — abuse policies with complete confidence.
- Enables their fraud and risk team to create, modify, and simulate abuse policies leveraging their own data to see implications to revenue and customer experience before pushing live.
- Puts customer experience at the forefront and ensures loyal customers always get a positive experience.
Striking this balance is a true challenge, and it requires a more innovative set of tools in your arsenal than the offerings that currently exist on the market. In-house solutions are often inefficient and can’t measure the impact of policies at large scale. Rules-based systems don’t scale well and leverage hard data facets like email addresses and IP addresses that can easily be manipulated so abusers slip through the cracks. And other identity-based providers are limited in the types of abuse they address and don’t combat abuse at both checkout and post-purchase.
This leaves a massive opportunity in the market for a vendor that makes identity-based decisions, curbs more types of abuse at multiple touchpoints, and delivers powerful insights to effectively and accurately stop abuse at the source.
Enter Forter
Today, we’re excited to announce the launch of our next-generation Abuse Prevention solution, which identifies and blocks abuse at the source to protect revenue while delivering a quality experience for genuine customers. Forter leverages our identity-based decisioning and the largest global network of identities to detect, flag and block repeat abusers at both points of checkout and post-purchase.
Forter Abuse Prevention allows merchants to create, modify, simulate, and publish policies directly within the Forter portal through our self-service Policy Builder functionality. With Policy Builder, a retailer can immediately quantify the extent of their losses to the most common forms of abuse—returns, item-not-received (INR), reseller, reshipper, promotions, and limited item. They can then create policies that target those abuses and simulate the business impact of any one policy using live or historical data. This ensures merchants can confidently implement policies, knowing they will have the intended effects on revenue and customer lifetime value.
With Forter Abuse Prevention, you can unlock complete visibility and control, with the ability to optimize — and ultimately personalize — abuse policies with complete confidence.
Get Started with Forter Abuse Prevention today
Don’t let abusers impact your customer experience or your bottom line. Explore how Abuse Prevention can put you in the driver’s seat to effectively combat abuse while delivering a quality brand experience for your genuine customers. Visit https://www.forter.com/platform/abuse-prevention/ or schedule a personalized demo to learn more.
