QVC and Shop Direct join fraud war

QVC and Shop Direct join fraud warA number of leading direct-sell retail brands have joined forces to share data through a fraud and loss prevention coalition being launched by consumer insight specialist Transactis.
The move will create a new weapon in the battle against both professional and opportunistic fraudsters, while strengthening processes that ensure genuine customers receive better service.
The initial members of the Transactis’ Trade scheme include QVC UK and multi-brand online retail group Shop Direct – whose divisions include Very.co.uk and Littlewoods.com.
The scheme aims to vastly improve merchants’ ability to spot potential fraudsters at any customer touchpoint and act rapidly by enabling them to tap into behavioural data across multiple brands.
Sharing data not only better equips retailers to identify, investigate and challenge potential fraudsters, but it makes it quicker and easier for them to authenticate genuine customers making legitimate claims for missing deliveries, lost returns and other order problems.
With these key players signed up to the new data-sharing initiative, Trade already brings together customer information from 9 million UK households – 39% of the market – and is urging other retailers to join.
Members are able to make quick decisions on questionable customer conduct and suspect transactions based on analysis of consumer behaviour patterns across a wider information base than previously available. TRADE is the first database that shares real-time fraud and loss information from both ‘cash’ and ‘credit’ etailers.
QVC UK finance manager Martin Spencer said: “Companies in the retail industry have not really worked together before to deliver a collective anti-fraud service that covers both card and credit transactions, so Trade is providing a real opportunity for a level of information-sharing that has not previously been possible. This will not only ensure quicker and more effective fraud screening, but it will mean that we and other Trade members can do a better job of making sure genuine customers get the best possible service.”

1 Comment on "QVC and Shop Direct join fraud war"

  1. QVC and Shop Direct join fraud war by signing up to @Transactis scheme http://t.co/ufF7eFBPAL #datascience #ecommerce #directmarketing

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