What fraud risks do eTailers need to be aware of when trading into the Nordic countries?

LinkedIn Twitter Facebook

 

Author: Instantor

 

Fraud is unfortunately a lingering risk for all actors in the online space, the eCommerce sector is sadly no exception.

 

Even though banks, payment / card companies and commerce operators are becoming more skilled by the day applying increasingly sophisticated alert-systems there is still a lot of work remaining.

 

The risks eTailers need to be aware of are ever-changing in their characteristics but not too often in their nature. In our experience the most common issue relates to (credit) card purchases and the fraud related to this portion of the online funnel.

 

Payments & Fraud in the Nordic Region

 

Already in a study from 2002, in the early ages of online shopping, conducted at the University of Gothenburg, the authors conclude that card fraud is a costly operational risk for the retailers. Already then, better (higher technostructure), and more reliable solutions were suggested.

 

One scenario, according to the Swedish Police, the retailer needs to be aware of / implement "red flagging" systems for, is when identical orders appear in a short period of time as the fraudster often "attacks" one site intensely, before moving on to the next "target". A seemingly simple scenario to track.

 

Another example that we at Instantor have seen are situations where purchases are made with card and goods are thereafter returned to the e-store for a "cash back" but where the fraudster want the money to be transferred to another receiver (either card or account) than originally used. The sector standard of only returning money to the card utilised at purchase reduces flexibility for the client, we believe. A simple measure of linking identity and account number could be a way of increasing barriers for fraud.

 

LinkedIn Twitter Facebook

Delivery preference of Dutch and Belgian online shoppers

Delivery preference of Dutch and Belgian online shoppers

Dutch and Belgian consumers are increasingly buying their goods online, but they differ in how they want those goods delivered. A savvy online retailer needs to localise its delivery options to meet these local requirements. But what are these delivery preferences?
The fundamentals of retail: Which European countries are leading the way?

The fundamentals of retail: Which European countries are leading the way?

From delivering on promise, to quickly resolving contact centre queries, to minimising the amount of returns, there are myriad aspects for retailers to get right when it comes to delivering a great customer experience. But which European countries are most successfully delivering on the fundamentals of retail?
Beyond Black Friday: Unmissable international events for 2017 eCommerce plans

Beyond Black Friday: Unmissable international events for 2017 eCommerce plans

In the US, the day after Thanksgiving has been a key focus for US shopping. Now, Black Friday is becoming the unofficial start to the Christmas shopping season in countries across the world. But there are hundreds of other events across the world to be aware of when developing an international strategy. Here are a few...
How UK retailers use localisation to succeed in Asia

How UK retailers use localisation to succeed in Asia

Expansion into Asia can be a natural next step for a successful business and with UK brands such as Burberry, The Body Shop and Lush having all had huge international success, what can we learn from these brands?
Why international e-tailers should re-visit the top of the funnel

Why international e-tailers should re-visit the top of the funnel

The role of brand awareness is increasingly critical to international expansion and with various platforms offering better reach and targeting than ever before, why is it important for international retailers to revisit the top of the funnel to help create a more compelling picture?
‘Your Global Consumer Isn’t Who You Think She Is’ - An Interview with Kai Li from Revolve Clothing

‘Your Global Consumer Isn’t Who You Think She Is’ - An Interview with Kai Li from Revolve Clothing

Kai Li, Vice President of International for Revolve Clothing, took part in an insightful Q&A session and shared his approach to expanding businesses into new Countries and why identifying his business’s value proposition in those countries is critical.
Black Friday growing strongly in Brazil

Black Friday growing strongly in Brazil

The phenomenal performance of Black Friday rippled around the world and Brazil was no different with eCommerce Brasil reporting billions in sales. So what are the figures coming out of Brasil on this bargain-hunting shopping day?
eCommerce in Brazil: Going local is key

eCommerce in Brazil: Going local is key

As with anywhere, Brazil has its fair share of problems – but with a population of 200 million, a tech-savvy and consumption-driven middle class and arguably the most internet-connected population in the world, is Brazil seen as a necessary evil for international merchants looking to expand internationally?
Quality of delivery offer important to Dutch shoppers

Quality of delivery offer important to Dutch shoppers

Cross-border eCommerce in Belgium and the Netherlands is making big strides and with a population of 28 million people and combined GDP of €1.08trn and English spoken widely, it’s no wonder it offers an attractive market to international merchants looking to expand into new territories. But does the quality of delivery offered that important to Dutch shoppers?
How to maximise your chances of success in India

How to maximise your chances of success in India

eCommerce is growing at an unprecedented rate in India thanks to a number of factors and with the percentage of online retail sales growing rapidly, what do retailers need to consider in order to maximise their chances of success in India?

Contact Us

eCommerce Worldwide
2 Ching Court
49-53 Monmouth St
London
WC2H 9EY

Tel: 0203 696 0980
2016© eCommerce Worldwide

Keep In Touch

powered by Affino

About eCommerce Worldwide

eCommerce Worldwide provides online retailers with all the information, and resources, they need to develop cross-border strategies for entering new markets around the world
Read More