Welcome

The payments conversion challenge: What steps are retailers taking to ensure seamless transactions for customers while reducing fraud risk?

Sponsored by Signifyd
Thursday 21 October 2021
L'oscar London, 2-6 Southampton Row, London, WC1B 4AA

There has been an explosion in e-commerce growth in the past 18 months as the pandemic drove customers online. But this growth, along with the cross-border trade it has opened up, has brought new layers of complexity for online merchants, which fraudsters and dishonest customers have been quick to exploit. As a result, payments fraud is at an all-time high, with retailers struggling to carry out manual checks while cross-border regulations put up barriers to international growth. And with the peak holiday and Black Friday trading periods fast approaching, retailers are facing an influx of customer orders, and with it, an influx of fraud risk.

At the same time, retailers in the UK are rushing to prepare for the Strong Customer Authentication (SCA) implementation in March 2022.But many are struggling to ensure compliance without creating additional friction. And with seamlessness now a vital key to unlocking customer loyalty, those who fail to provide smooth transactions face abandoned carts, negative reviews and a serious risk to conversion rates which could have a devastating impact on the bottom line.

To combat these challenges, many retailers are exploring the potential of automated fraud detection platforms, which use AI and machine learning to scan for suspicious activity, ensure compliance with SCA and speed up the payments process. This roundtable event with industry peers will explore the key challenges and opportunities for retailers as they prepare for SCA while offering  a secure and seamless customer payments experience.

Topics for discussion

• How are retailers striking the right balance between seamlessness and security in the customer journey leading up to the holiday season?
  
  
• What are the major pain points for retailers looking to implement cross-border payments as they scale operations internationally?
  
  
• How have fraudsters’ methods changed and why does cross-border and growth add complexity to the detection of issues such as account takeover, unauthorised resellers, and promotion abuse?
  
  
• What impact has the introduction of SCA (Strong Customer Authentication) had on retailers operating in Europe and what are some of the key lessons learned?
  
  
• How has the SCA changed conversion rates, and what steps are retailers taking to ensure seamless transactions for customers while reducing payments fraud risk?
  
  
• What strategies can retailers implement to maximise their conversion rates over the Christmas and Black Friday sales period, while mitigating the risk of fraud?
  
  
• How do payments fraud risks vary internationally, both within Europe and further afield?
  
  
• How ready are UK retailers for the implementation of Strong Customer Authentication (SCA) rules by March 2022?

Timings for the evening:

18:00 – 18:30 Welcome and refreshments 
18:30 – 20:00 Introduction to fellow guests and roundtable discussion 
20:00 onwards Complimentary three-course dinner

Brought to you by Retail Systems