Optimising x-border business potential in APAC

Challenge : balancing growth and fraud prevention for APAC business players

15 October 12pm SGT / 3pm AEDT

Optimizing x-border business potential in APAC
Challenge : balancing growth and fraud protection for APAC business players 

 

Coronavirus accelerated the shift to digital economy. To stay afloat a lot of companies had to relocate their budgets from brick-and-mortar activities to digital strategies

According to  a recent forecast by Forrester, online retail sales in Asia Pacific will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024. Asia Pacific is forecasted to outpace the rest of the world, representing a whopping 64.3% of global e-commerce spending.

Digitization is borderless. However, cross-border activities even though bring new streams of revenue also bring new challenges. One of those challenges – knowing your real customers and decreasing the risk of becoming a target of fraud.  

According to a report from FIS 84% of merchants in APAC reported losses in revenue due to payment fraud, with synthetic identity fraud and account takeover fraud were ranked top in causing operational and revenue losses. 

Cross-border purchases are the leading cause of online payment fraud; accounting for over 47% of fraud losses in 2021.

So what are the best practices in fraud detection that won’t scare away the customers, yet protect the company from large financial losses? 

Finding a good balance between embracing the new market potential and keeping onboarding and transactions smooth, and secure, is key. Past practices of doing basic identity checks and submitting government ids to onboard customers is no longer good enough. Other data and verification sources must be employed, especially in cross-border verification of clients.

 

This webinar will 

  • > Discuss the developing market trends, such as growth in digital cross-border payments and the fraud landscape; 
  •  
  • > Challenges experienced by various market players and business impact of fraud practices; 
  •  
  • > How you can address the negative impact with the latest technology and operational tools, and reduce fraud;
  •  
  • > Discuss best practices in verifying cross-border identities and transactions while decreasing false positives and  customer dissatisfaction;
  •  
  • > Discuss essential checks, filters and preventive measures that are needed, next to orchestrated secure solutions.
  •  
  • > Share strategies of various businesses involved in emerging cross-border business developments. 
  •  

Jointly with Ekata we will highlight next generation breakthroughs and solutions that help business to secure best practice onboarding and transacting. We will focus on key developments in Europe, America and Asia. We look at ASEAN/ANZ initiatives and discuss how markets and partners could speed-up to keep ahead of next level fraud and cybercrime in transacting.

 


Join and learn from top expertise from Asia & Europe!

 

Leah Farrall AusPayNet

Leah Farrall

Economic Crime Manager
Australian Payments Network
| Sydney

>>

Tom Donlea

Tom Donlea

VP & GM,
Ekata
| Singapore

>>

3rd Salmony-zweitblick-17-24cm copy

Michael Salmony

Executive Advisor Worldline  
| Frankfurt
(Moderator)
>>

Jaygan Fu Ponnudurai

Jaygan Fu Ponnudurai

CEO | OVO
| Jakarta
>>

APC HardTalk

Balancing Growth and Fraud Prevention for APAC X-border Businesses

Check out our interview with Tom Donlea, VP and GM of APAC, Ekata.

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