Compiled by CardNotPresent.com Staff
2016 was a tough year for predictions—just ask Hillary Clinton or David Cameron. But, even while unpredictability reigned this year, businesses plan based on what they think is going to happen over different time horizons—especially the next 12 months. CardNotPresent.com asked several merchants and service providers in the CNP space to do what political pollsters in 2016 could not: examine the current environment and tell us what is likely to happen in the next year.
A focus on false positives, mobile-first design, expansion of machine learning and AI in payments and authentication advances for enhanced security are some of the things on experts’ minds heading into the new year. Hear what else leaders in our space identified as trends to watch, opportunities to leverage or threats to prepare for in 2017.
I expect false-positive reduction to be a big initiative for most fraud teams in 2017. Looking at several studies and benchmark reports, a reduction of false positives represents the biggest area for improvement and savings. There has been so much focus on chargeback reduction, review rates, and cancelled rates that another component of fraud KPIs—false positives—seems to have been left behind. I think this is a result of the complexity around false positives and the amount of work it takes to put together and execute on a plan to actually see some savings. There is a lot of money out there and a way to improve the customer experience with false-positive reduction. It should be the hot topic for 2017
– Kyle Largent, Fraud Prevention Supervisor, New Balance
We will look back at 2016 as the true tipping point where mobile experiences defined your success. We have seen the data that says
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