White Paper: New Commerce Trends Lead to New Priorities for Merchants
April 21, 2016
As CNP transactions continue to grow and consumers shift their buying habits from desktop to mobile, CNP payments and fraud prevention provider Vesta has identified five priorities every merchant must address. In ” Five Challenges Merchants Must Address Now ,” Vesta said consumers’ increasing penchant for engaging commerce through different channels is inherently risky, but merchants must be prepared to accept those high-risk payments. The company also pinpointed burgeoning “fast fraud,” the increasing burden of manual reviews, the need to make consumer data actionable and creating and using actionable KPIs as areas to which merchants should devote their attention.
“Merchants are facing a fork in the road where they are going to have to decide if they want to be in the business of fighting fraud or of selling their goods and services,” said Chris Uriarte, chief strategy and payments officer at Vesta. “They can devote their operational resources to building in-house solutions that are difficult to scale, or they can look to a more experienced third-party vendor who will allow them to refocus on activities that will grow the business.”