Q&A with Stefan Weitz, Chief Product and Strategy Officer, Radial

As e-commerce businesses scale, the expertise required to operate successfully begins to expand. From the user experience to logistics, to payment, to fraud prevention, the amount of ground midsize companies need to cover as they grow into large enterprises can get daunting. A growing number of merchants are seeking an all-in-one capability.  Stefan Weitz, chief product and strategy officer and general manager of payments and fraud at e-commerce solutions provider Radial, understands the desire merchants have to secure an e-commerce platform that covers all the bases. But, he contends, merchants must make sure the provider they choose can deliver more than just a great looking Website.

Weitz, a former executive at Microsoft, recently sat down with CardNotPresent.com for a wide-ranging discussion that touched on the one-stop-shop dilemma many growing merchants face. He also addressed the current state of e-commerce, the challenges of implementing an omnichannel experience, the most important trends in card-not-present fraud and how to compete with Amazon.

CardNotPresent.com: How are consumer expectations impacting merchants as they choose an e-commerce provider? What should merchants be looking for?

Stefan Weitz: If all retailers are focusing on is the front-end experience, they’re actually risking much of their business to competitors. It’s important, don’t get me wrong, but some merchants devote 80 to 90 percent of their spend for their e-com operation on that piece and neglect the back end, which is about 70 to 80 percent of the total order. The front end is important, obviously, but if you look at what consumers actually expect today, they expect to have perfect package delivery, they expect choice, convenience and control. But, if you take 3 to 5 days to deliver, or don’t offer expedited shipping, or you hold their card too long for an unnecessary fraud check, or you screw up the packaging, or you miss the engraving, or you have a bad return process, all those things can either engender customer loyalty or turn them away to your competitor. And in many cases, that competitor is Amazon.

CNP.com: There have been recent studies showing e-commerce growth could be slowing down in the U.S. as the market matures and that merchants are having problems with profitability because of consumer expectations. Are you seeing data that supports that, or not?

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