With E-bikes taking off in popularity, what can merchants do to protect their assets, customers, reputation and their bottom line?

Through the lens of fraud prevention, a growing general interest in any item typically results in 2 things:

1. Reliable value of the item in secondary marketplaces

2. Value to those who would seek to get the item for free (such as fraudsters and dishonest customers).

Proactively protect your operation by following the 3 steps below:

1. List, monitor, and protect the various ways that users can pay for the items.

A quick google search will reveal that companies are offering more than just cash / card payments. Methods such as Buy Now, Pay Later, financing, credit lines, etc. are all represented. Consciously monitor the ways that payment might come through your platform,

2. Protect and maintain your brand reputation by deploying process which will result in accurate determinations as often as possible.

“Firing a bazooka at the bad guys can cause collateral damage to good customers of your platform. Instead of a bazooka, use a sniper rifle.” Leverage the information and insight of your fraud team to drive accurate determinations by leveraging information available from each touchpoint in the CX Journey.

3. Monitor your performance relative to fraud by tracking Chargebacks and Policy Performance

Chargebacks are useful for tracking true fraud and friendly fraud (chargeback abuse), but policy exploits and manipulation won’t be represented there.

Fraudsters and dishonest customers are exploiting returns, exchanges, store credit, promotions, discounts and more, most of which will not be represented in the chargeback system that your company is using.