New online shoppers bring new opportunities for your business
Are you missing out?
We’ve seen a record number of new online shoppers in the past year, but these shoppers are 5-7x more likely to be declined by traditional fraud tools than returning customers. Furthermore, 40% of those declined on the first visit won’t try again on that merchant’s site. In fact, merchants can lose up to 75x more revenue to false declines than they do to fraud.
Loosing out on lifetime value
When merchants falsely decline new shoppers they miss out on opportunities to convert these potential buyers into loyal lifetime customers—we refer to this phenomenon as New User Missed Opportunity (NUMO). You can avoid NUMO by looking at fraud prevention from a new perspective.