Enhanced visibility and control to pinpoint repeat abusers by creating and simulating custom policies that reduce loss and drive customer lifetime value
Forter, the Trust Platform for digital commerce, today announced the launch of its next generation Abuse Prevention solution that empowers merchants to identify and block abuse through custom, self-service policies and simulations.
Policy abuse is a growing challenge, particularly during the holidays. In fact, according to a new online survey conducted by The Harris Poll on behalf of Forter, over half of US and UK consumers (56%) admit to wardrobing – purchasing an item with the intent of returning it after using it. However, many merchants are either unaware of the magnitude of their abuse problem or how to most effectively block serial abusers without negatively impacting trustworthy customers. For example, merchants may want to curb abuse of their returns policy, but also allow known, good customers to receive instant refunds for their returns. Striking this balance can be a challenge.
Forter has expanded its Abuse Prevention solution to include Policy Builder, a capability that provides merchants with more visibility into and control over their policies. With Policy Builder, a merchant can immediately quantify the extent of their losses to the most common forms of abuse—returns, reseller, reshipper and promotions. They can then create policies that target those abuses and simulate the business impact of any one policy using live or historical data. This ensures merchants can confidently implement policies, knowing they will have the intended effects on revenue and consumer lifetime value.
Read More: McAfee Study Unwraps Holiday Shopping Behavior and Shares Tips for a Safer Online Shopping Season
“Policy abuse is a multi-billion-dollar problem, but the industry’s legacy solutions stop abuse at the expense of customer experience and lifetime value,” said Michael Reitblat, chief executive officer and co-founder, Forter. “Abuse Prevention provides merchants with more intelligence and controls to identify abusers, craft custom policies and assess their business impact. Decisioning at both checkout and post-purchase means we have merchants covered across the full customer journey.”
These innovations represent Forter’s commitment to putting more visibility and control in the hands of digital commerce leaders. Forter customers can now manage all policies from a central dashboard, tracking and analyzing the business impact of these measures over time.
Read More: SalesTechStar Interview with Abigail Salvador, Sr. Growth Account Executive at Gong