Distance selling has the problem that retailers don’t have their customers personally in front of them. They can only judge whether the customer is trustworthy and actually is who they say they are based on purchased information.
Standardized payment solutions unfortunately often do not provide a possibility to integrate the information about a customer in the current payment process. That results in multiple problems. If a retailer wants to conclude as many sales as possible and doesn’t perform a risk check for this reason, the danger of fraud rises. If, however, all payments are fully secured, many trustworthy customers may be rejected because their preferred means of payment isn’t provided or the sale is simply too inconvenient. The goal needs to be a simple yet secure process that is structured individually for every customer and every type of payment.
There are many options for a retailer to individually asses how high the risk of a payment default is and which options it wants to choose in order to guide the customer to a secure payment process. Solutions from
Wirecard CEE allow decisions to be made for every single transaction, including whether additional security measures, such as 3-D Secure, are needed, or whether the payment should go through an additional risk check. The customer himself experiences very little of the checks going on in the background. Nothing is more annoying than to select a means of payment and then receive an error message saying that this means of payment for this customer and payment process is not offered due to security reasons.
Creating win-win situations
To configure payment solutions accordingly, the retailer needs to set up rules for when which means of payment are offered or features used. This is saved in the background by the support team at Wirecard CEE. To execute it, only the customer data needed to run through the individual rules is transferred. The result is an intuitive and smooth payment process for the customer, and cost savings and risk optimization for the retailer.