Every business is in a different place when it comes to payment optimizations. Business leaders need to be able to understand payments optimizations to make the best business decisions. PayPal is simplifying payment optimizations to make these topics understandable so that your business can focus on what matters most.
Learn about Checkout optimization, auth rates, vaulting, tokenization, fraud management, and chargeback protection in our series of videos and articles.
Most car owners choose their mechanics carefully. They may have developed a working relationship with them over years or even decades – built on mutual trust and the understanding that they have the car owner’s best interests at heart. Similarly, online merchants should pick their payment processor with care. They should know that there’s more to success than the shiny exterior of a checkout experience.
Organizations spend significant time and resources trying to drive revenue. From digital marketing to website design and product mix, everything should be optimized to improve the bottom line. But what happens when, after all that, a customer’s payment is declined? This is why authorization rates are so important.
Customers demand a payment experience that delivers both convenience and security. Balancing high authorization rates while minimizing fraud losses is a tall order for businesses, and doing so without compromising on a seamless customer experience requires even more strategizing.
Digital commerce is surging, but so is transaction fraud. PayPal alone sees 168,000 fraud events on average per day.1 The challenge facing merchants is therefore to improve their detection of illegitimate transactions without worsening the user experience for genuine shoppers. Transaction fraud and unseen threats like stolen credentials or suspicious buying patterns can harm your business.
Merchants are struggling to contain losses due to chargebacks. When customers claim that their item didn’t arrive or they didn’t authorize a transaction, it can add strain to your resources and revenue. With scarce in-house resources and limited access to the right data, it can sometimes feel like you are taking the hit on chargebacks. And this is a high stakes game: get fraud and risk strategies wrong and the resulting chargeback losses, overheads and reputational hit could be significant.
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