Fighting Fraud by Gaining Visibility Across Payments and Fraud Teams
According to Visa, friendly fraud rose 20-30% globally in 2022. It is estimated that 17% of customers that file chargebacks are committing fraud. The cost of U.S. card fraud is expected to reach $13.73 billion by 2024. And, every dollar of fraud now costs retailers $3.75 to resolve.
The responsibility for mitigating these costs is increasingly blurred between payment, fraud, security, and IT teams. However, without increased visibility across the entire payment and fraud ecosystem, it’s exceedingly challenging to increase efficiency, decrease losses, and deliver on customer expectations while safeguarding the business.
Creating transparency and full visibility across payment and fraud processes is essential to achieve these goals. But doing so is complex. How can managed services serve to streamline processes and deliver the “single source of truth” visibility you need?
In this ebook, you’ll learn:
- Why you can’t afford to keep teams siloed
- Two most common approaches most retailers use to manage fraud and payments
- Key signs you’ve outgrown your current model
- How to develop a modern payment and fraud approach
- Advantages of a managed services model
Explore Radial’s payment and fraud solutions.