How to Avoid a Holiday Hangover
Picture this scenario. It’s December 31: Woop! Woop! Cyber Monday was phenomenal! Last minute sales rocked! Most holiday orders ever! And thanks to a super human effort by the team, everything shipped and delivered on time! Wow. The only question now is “How are we going to spend those big, fat holiday bonuses?”
Hold on a second there, Blitzer. Don’t mean to bring you down from your heady sales binge, but it could actually lead to a head-splitting holiday hangover.
This year, fraudsters are armed with the massive amounts of “weaponized” data from the breaches at Home Depot, Shaw’s (second in 2 months), etc. That means you might wake up to an ugly Q1 headache when all those “orders” turn into chargebacks from fraud.
Think you’re immune? Heed this tale from Christmas Past: on December 27, 28 and 29 of 2013, a Kount customer was hit by a bot attack. Their website was deluged with thousands and thousands and thousands of fraudulent orders—as many as 140 attempted fraudulent transactions per minute! Without Kount, they would have had a huge holiday hangover. But thanks to Kount, they had zero $ losses to fraud. And no interruption of normal business activity. In fact, they enjoyed near record-breaking sales on the days the attack raged.
How is that possible? Order Linking, Velocity, and Personas are just a few of the technologies that the Kount Complete™ solution uses to fight “weaponized” data. For example, Personas capitalize on the insights revealed when integrated Kount technologies process millions of CNP transactions every day. These insights are used to build predictive models that “anticipate” what a fraudulent CNP transaction will look like—before it even happens. When suspicious transactions occur that match the attributes compiled by Personas technology, Kount flags them for further scrutiny or a flat out decline (depending on how you tell Kount you want to handle them).
If you’d like to be sure that big holiday sales don’t lead to an even bigger holiday hangover, request a live demo today.