Well known shoe retailer Clarks increased conversion and attracted more online shoppers with RiskGuardian. We have provided Clarks with payment services for over a decade. In 2010, 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
In 2013, Clarks moved to RiskGuardian, 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 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 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.
Worldpay helped us understand payments behaviours and fraud. Now we can operate more profitably and with greater confidence.Kelly Smirk, Head of MCR UKOperations at Clarks
Worldpay (UK) Ltd (Company NO. 07316500/FCA No. 530923). Registered office: Walbrook Building, 25 Walbrook, London, EC4N 8AF. Worldpay (UK) Ltd is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 for the provision of payments services and is authorised and regulated by the Financial Conduct Authority for consumer credit activities. Worldpay, the logo and any associated brand names are the trade marks of the Worldpay group of companies.