We’ve provided Clarks with payment services for over a decade. Clarks implemented our Gateway solution for their eCommerce business which was rolled out in the UK and in 15 countries across Europe.
Growth led to higher risk
Clarks had a good control over fraud with only 0.03% of orders raised as chargebacks. However, as they experienced market growth and with the introduction of additional payment types their risk profile increased. More chargebacks were raised and approximately 62% of these cases were lost. Clarks needed to protect genuine customers and keep fraud to a minimum.
What we did to tackle the risk
Clarks moved to RiskGuardian (now FraudSight), a sophisticated fraud tool from Worldpay. Our fraud experts worked closely with Clarks to monitor transaction profiles. By identifying specific payment behaviours we were able to implement custom rules and alerts on new and emerging fraud trends.
RiskGuardian (FraudSight) helped automate the fraud management process and reduce manual processing. With an easy to use interface Clarks were able to run bespoke reports. This has helped Clarks to reduce fraudulent orders being despatched.
Increased sales and greater security confidence
Clarks have maximised the number of genuine customers completing payments:
- An additional 2% of orders are now placed
- Chargebacks dropped to only 0.01%
We also put in place processes to manage risk on foreign cards in the mission to keep boosting sales. And we continue to alert Clarks to any issues that could threaten their business.
How does it work?
RiskGuardian (FraudSight) is a world-class fraud management service for online, mail and telephone order companies.
It works by scanning millions of transactions worldwide throughout every day – then using and comparing the data to identify potential fraud. It can also carry out ID checks.
It accurately screens transactions in less than a second, and can be set up to reject or report them – saving our clients millions every year.