Welcome to CashRun Insight April – June 2013! Our spring issue starts with very good news as online sales in Europe reach the record-breaking figure of €300 million. We want to help merchants add securely an increasing number of European payment methods to their web stores. Check our first story to find out how! Secured online transactions are also behind our new CashShield Trial Accounts, aimed at showing merchants with high chargeback risk the benefits brought by the automated verification of our fraud protection solution CashShield. Last, do not miss the opportunity to visit About-Payments’ website, our latest global media partner, to get an insight into the world of payments and e-commerce intelligence.
Enjoy the reading!
Managing Director – CashRun Group
Increasing Online Sales in Europe
With online revenue expected to grow around 22% in 2013 and online sales turnover estimated at €300 million in 2013, Europe is the world’s largest online market. And some might say the world’s most complex, too. Online merchants wishing to increase their cross-border sales in Europe need to clarify certain aspects before they see their sales in Europe growing. Preferred payment methods in Europe differ much from country to country, and so do shipping costs, return policy and data protection legislation, to name a few. As if these aspects were not enough to deter any entrepreneur, online fraud and chargeback are even more difficult to fight when generated overseas. In fact, according to a survey1 carried out in 2012, 44% of the respondents said that “potentially higher costs due to higher risk of fraud or non-payment” had a high impact on their cross-border trading. Things do not look more promising on the consumers’ side: 50% of consumers consulted in a study2 done in 2012 cited “do not trust website/security concerns” as the reason to abandon their online purchases.
CashShield helps online merchants achieve the following:
- Filter out only real fraudulent orders by analyzing information on payment, customer, device and network. This wide range of data analyzed allows CashShield to be extra efficient when verifying orders generated overseas.
- Accept those payment methods preferred by your target market, ensuring that fraudulent transactions are equally isolated, regardless of the payment method used.
- Deliver instantly thanks to CashShield’s automatic order verification, performed by more than 200 tests topped by our unique 100% Chargeback Protection, which insures every approved order.
1 European Cross-border ECommerce: The Challenge of Achieving Profitable Growth, Accenture for European Retails Round Table (ERRT), January 2012.
2 The Connecting with Customers Report, A Global in-depth study of the online customer, LivePerson, January 2013
New Media Partner
From March 2013, CashRun welcomes About-Payments to join our global network of media partners. The newly created company, based in The Netherlands, presents a comprehensive web directory of payment methods, payment gateways and market intelligence for merchants and e-commerce stakeholders worldwide.
This new partnership aims at opening up an additional media channel between CashRun and current and potential merchants in Europe, creating a virtual platform to showcase our solutions and enable communication with interested merchants looking for payment and fraud protection solutions. About-Payments’ partners can easily manage their own web profile, thus better address the need for accurate information among potential merchants.
“We are sure that this partnership will help us increase the awareness of CashRun and its solutions among a rising number of merchants; in return those merchants will be able to reach a larger amount of customers with our partnering payment methods and to secure online transactions with our fraud protection solutions” stated Katharina Ogilvie, Business Development Manager of CashRun Group. For more information visit: www.about-payments.com
CashShield Trial Accounts
CashRun is now making available CashShield Trial Accounts. Online merchants, especially those dealing with intangible goods that have an unusually high chargeback rate, can now easily integrate CashShield for a limited period of time to experience first-hand the benefits of CashShield’s comprehensive and automated screening.
Online transactions processed through merchants’ web stores will be analyzed using information from payment, customer, device and network and given a score showing merchants the risk entailed in delivering the order screened. CashShield Trial Accounts are meant to work with every payment method, including credit cards. Contact us today to request more info!
We hope you have enjoyed reading our quarterly edition of CashRun Insight. Should you require further details on the above, contact us at firstname.lastname@example.org or visit www.cashrun.com for updated information and news. See you next quarter!