Fighting fraud and improving consumer experience

Welcome to the CanadianSME Small Business Podcast, hosted by Maheen, where we explore the tools and strategies that empower businesses to thrive in today’s digital economy. In today’s episode, we focus on fraud prevention, dispute resolution, and enhancing the customer experience through innovative payment solutions.Recent trends indicate a significant rise in digital fraud and chargebacks, putting a strain on businesses’ bottom lines and customer trust. This highlights the importance of finding effective solutions to bridge communication gaps and ensure smooth transactions.Joining us today is Gaurav Mittal, Executive Vice President of Ethoca, a Mastercard company, and a leading provider of collaboration-based solutions that help businesses fight fraud and improve customer interactions.Key Highlights:1. The Era of Rising E-Commerce: How rising e-commerce affects merchants and consumer shopping habits, and key shifts observed from Mastercard’s perspective.2. Post-Transaction Experience: How improving the consumer experience post-transaction helps businesses in the e-commerce space.3. Customer Retention and Lifetime Value: The relationship between simplifying disputes and enhancing customer retention and lifetime value for businesses.4. Maintaining Consumer Expectations: Key pain points businesses face in meeting rising consumer expectations for a seamless e-commerce experience.5. Projections for the Next Five Years: Insights into the future of chargebacks, first-party fraud, and progress in the disputes and transactions sector.Special Thanks to Our Partners:RBC: https://www.rbcroyalbank.com/dms/business/accounts/beyond-banking/index.htmlUPS: https://solutions.ups.com/ca-beunstoppable.html?WT.mc_id=BUSMEWAGoogle: https://www.google.ca/For more expert insights, visit www.canadiansme.ca and subscribe to the CanadianSME Small Business Magazine. Stay innovative, stay informed, and thrive in the digital age!Disclaimer: The information shared in this podcast is for general informational purposes only and should not be considered as direct financial or business advice. Always consult with a qualified professional for advice specific to your situation.