In today’s digital-centric world, it’s not always easy for online merchants to differentiate themselves. There are a ton of options for consumers today, which has made it very difficult for these merchants to create and cultivate brand loyalty. Additionally, even if a merchant manages to develop brand loyalty, whether it be through a smart marketing campaign or simply providing high quality products and customer service, consumers could lose interest and start going to another merchant at any second for any random reason.
Once these online merchants start to develop a consistent and loyal consumer base, they need to ensure that these consumers are constantly satisfied with both their products and the overall experience. It’s no longer sufficient to strictly rely on products or services alone to adequately retain the interest of consumers. For this reason, eradicating false declines from the entire ecosystem is more important than ever before.
Today, consumers want their checkout experience to be as quick and easy as possible. Since they have a multitude of options, they can easily take their business elsewhere if they are falsely declined. That decision can be disastrous for online merchants.
While merchants can associate fraud with danger and a significant loss of revenue, they should be wary of false declines, as they can be far more hurtful, in terms of revenue loss. Every time a consumer decides to leave a merchant’s site because of a false decline, that merchant can lose out on all potential future sales to that consumer. Once the consumer leaves, there’s no assurance that they’ll ever be back. In fact, there’s a chance that they’ll never return, which means the merchant will have lost an incalculable amount of future revenue.
The false decline problem can be pervasive and extremely damaging for merchants. If they want to succeed in the digital commerce world, merchants should do everything they can to reduce them. One way they can do that is by utilizing Cardinal Consumer Authentication, our rules-based authentication solution. CCA gives merchants and issuers access to more data, which will enable the issuer to make smarter and quicker decisions during the authentication process, which means fewer consumers will be falsely declined at checkout. With One Connection to Cardinal, we can Drive your Digital Commerce.