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Don't Let Slow Fraud Prevention Kill Your Holiday M-Commerce Sales

posted on: Fri Nov 07 2014

M-CommerceMerchants will miss out on $8.6 billion in sales this holiday season due to bad mobile checkout experiences. In fact, slow mobile checkout was specifically named by nearly half of shoppers (47%) as the reason they didn’t complete a mobile purchase. How can you make sure your fraud prevention solution isn’t slowing down your mobile checkout?

With Kount, the average transaction -- mobile or otherwise -- is processed in just 300 milliseconds. And you can set custom rules so that 100% of mobile transactions are approved/denied without further processing or intervention. Nothing slows down at checkout for your mobile buyers! Kount is able to work so quickly because we own our core technologies and integrate them at the code level.

Compare that with workbench fraud prevention solutions, which aggregate a number of third-party technologies. Each technology function requires a separate query to a separate provider. This can add seconds to the time-to-resolution. And if one query gets hung up, the whole process stalls. Now you’re talking about adding tens of seconds to a mobile transaction. And that can only contribute to higher abandonment rates.

But wait, there’s more bad news. Besides the loss of immediate m-commerce revenue, there are also long-term negative effects. 57% of customers who have a bad mobile experience do not re-attempt the transaction later on a desktop and 12% go directly to your competitor! Ouch! What’s more, nearly 2 out of 3 (63%) said they were less likely to buy from the same company via other channels after abandoning a poor mobile transaction.

It’s NOT too late to make sure your m-commerce transactions don’t get slowed down by fraud prevention. With our SaaS model, you can have Kount Complete processing m-commerce (and other) holiday transactions in just days. To find out how, schedule a demo today.