Solutions overview
Harness the power of your data
Support and investigations
Support services for Ravelin
Online payment fraud
Account security
Policyabuse
Marketplace fraud
3DSecure
Resource Zone
Deep dives on fraud & payments topics
API & developer docs
APIs, glossary, guides, libraries and SDKs
Global Payment Regulation Map
Track PSD2 & more with a full report
Blog
The latest fraud & payments updates
Insights
In-depth guides to fraud, payments & security
About Ravelin
Discover the story about Ravelin
Careers
Join our dynamic team
Customers
Read more about our happy customers
Press
Get the latest Ravelin news
Support & investigations
Accept more payments securely
Protect your customer accounts
Policy abuse
Stop policy abuse to protect your bottom line
Ravelin for marketplace fraud
3D Secure
Ravelin 3DS & SDKs
Resource zone
Global Payment regulation map
Read more about our happy custmomers
Podcast / Other
Episode 6
Can merchants work together to fight fraud? Gill Wells from Just Eat discusses the possibility and benefits of merchants working together to defeat fraud.
We're very excited to have welcomed Gill to the podcast this week to talk about how and if merchants can work together to combat fraud.
Gill starts out by saying, "you don't know what you don't know," when it comes to fraud prevention. It's only by speaking with other merchants or people who have had similar experiences with fraud that you learn how to better protect your business. This is especially true as a new company, when it's important to understand why they're seeing chargebacks and how fraud is happening.
While sharing data seems like a great idea, Gerry asks Gill if many merchants would actually be open to it? Gill reckons that fraud professionals get a lot more value in actually discussing challenges, tactics, etc with their peers than listening to a speaker at a conference. Getting in a room and speaking with peers about common fraud challenges is the best way to get actionable tips for how to better fight fraud.
Sharing advice is different from sharing data however, Gerry points out, but would there be value in sharing data between merchants? While there are big data privacy implications and legal teams would need to be brought in to ensure no business' data would be compromised, it is not an unobtainable concept. Also, being able to share confirmed fraud through data such as TC40s or compromised card numbers, would be invaluable for merchants.
Gill stressed that the integrity of the data being shared would need to be high. As long as all businesses were sharing data with the same parameters pertaining to chargebacks and confirmed fraud, it would be a really useful for merchants across industries. The more information merchants have at their fingertips, the better decisions they can make around fraud prevention. If legal and technical issues are guaranteed to not be a problem, then sharing this data would be a no-brainer.
One of the best places for merchants to swap war stories and learn from one another, is the Merchant Risk Council (MRC). The MRC caters to fraud professional from across experience levels and industries. The MRC creates safe spaces for collaboration between merchants throughout the year with their conferences, members' meetings and roundtable events.
Learn more about online payment fraud here.
Alara Basul Head Of Content
More from Alara Basul
Share this podcast:
Blog / Fraud Analytics
Fraud prevention is a delicate balance between stopping fraud and maintaining good customer experiences. But what is the most effective way to measure this outcome?
Ravelin Technology, Writer
Blog / Machine Learning
Online payment fraud is one of the biggest threats facing grocery merchants. And it’s only gotten worse. How are fraudsters using the cost of living crisis to take advantage of your business?
There’s a new fraud threat on the rise – and it’s your customers. First-party fraud is infamously tricky to catch and a huge revenue risk. How can you detect and deter criminal behavior in your customer base?