This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New UK ECommerce Report Helps Retailers Optimise Order Acceptance

READING, England, March 7, 2013 /PRNewswire/ --

CyberSource 2013 UK eCommerce Report Out Now; Provides Guidance to  Strengthen Customer Experience

Best-in-class retailers should focus on optimising order acceptance in 2013 according to the ninth annual UK eCommerce Fraud Management Report from CyberSource, a Visa company (NYSE: V).

The survey of 200 UK merchants revealed clear opportunities for businesses to identify and convert valid orders faster, whilst further streamlining their manual review processes. According to the report, retailers reject a significant proportion of eCommerce orders, some of which may be valid. Furthermore, merchants reported that, on average, they manually review a quarter of eCommerce orders; however they ultimately accept over two thirds of these transactions.

"In 2013, businesses should take an holistic view of fraud management and focus on acceptance; identifying good customers sooner and then optimising their entire payment experience, irrespective of the device or channel used," said Simon Stokes, Managing Director EMEA at CyberSource.

The eCommerce opportunity The UK eCommerce industry is a world leader in terms of its maturity and scale; worth £78bn in 2012 according to the IMRG. The report found that the US, Germany, France and Ireland generate the most cross-border eCommerce revenue for UK merchants. Italy, Spain and China are the top countries planned for market entry in 2013. New territories and digital channels bring significant opportunity to merchants, as well as potential complexity.

"As businesses look to reach more customers and source new revenue opportunities, it's important to find the right balance when defining risk strategies," said the report's co-author Dr Akif Khan, Director, Strategic Initiatives, CyberSource. "Optimising profits means focusing on the end-to-end eCommerce journey, and doing so efficiently. By automating acceptance and minimising the need for manual review, fraud managers can positively impact conversion rates, profit margins and the overall customer experience."

Optimising acceptance CyberSource's Managed Risk Services team has introduced a five point plan to help businesses streamline order acceptance. Much more detailed insight is offered in the full report, accessed here:
  1. Assess the  Opportunity : Compare your key fraud management metrics to those in the report, including the order reject rate, and consider where there is room for improvement.
  2. Examine Review Outcomes: Look at the proportion of manually reviewed orders that you ultimately accept. If this is too high, the criteria used to sort orders into a review queue may need tightening; automate as much as you can upfront to increase valid order acceptance.
  3. Optimise Rules: Constantly analyse reviewed orders, and create new rules to improve the customer journey. Ensure rules are refined to reflect each market and payment method, as well as seasonal, or even daily, buying behaviours.
  4. Consolidate Channels: Using one platform helps you take a single view of the customer across web, mobile and call centre channels, as well as markets. Track transactions from multiple sources using cross-channel velocity checks.
  5. Keep Testing: Constantly test and tune new rules to understand how changes could improve your performance and conversion rates. Find the right balance: profit is the objective, not necessarily the lowest chargeback rate.

About CyberSource CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 400,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in San Francisco, and maintains offices throughout the world, with regional headquarters in Singapore, Tokyo, Miami, Sao Paulo and Reading, U.K. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit

SOURCE Cybersource

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
GOOG $698.21 0.00%
FB $118.57 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs