Nearly 1 in 5 shoppers abandoned their online shopping cart in 2022 due to a “too long/complicated checkout process,” according to the Baymard Institute. With the immense pressure ecommerce companies are under to offer a speedy and convenient checkout process, it’s become extremely difficult for them to strike the right balance between user experience and fraud prevention.
The issue at the center of this balance is friction. But what is it? Friction is anything that slows down a customer’s transaction across their buying journey. And it can be introduced anywhere in the digital transaction; from sign-ups and onboarding, to adding a credit card, to selecting a shipping option - and everything in between.
In this eBook, you will learn about the role of friction in the digital purchasing experience and how you can strategically reduce friction in your transaction process while still keeping the fraudsters out.
Download this eBook to explore:
- Trends and challenges with friction in ecommerce transactions
- How friction is defined and understood by both merchants and consumers
- Strategies for minimizing friction and balancing your fraud prevention and user experience needs
Cybercrime is expected to cost the global economy $10.5T by 2025
Making it vital to implement friction to protect your business from fraud, chargebacks, and a wide variety of revenue-killing activities.
Download the eBook Today!
About Ekata
Ekata Inc., a Mastercard company, empowers businesses to enable frictionless experiences and combat fraud worldwide. Our identity verification solutions are powered by the Ekata Identity Engine, which combines sophisticated data science and machine learning to help businesses make quick and accurate risk decisions about their customers. Using Ekata’s solutions, businesses can validate customers’ identities and assess risk seamlessly and securely while preserving privacy. Our solutions empower more than 2,000 businesses and partners to combat cyberfraud and enable an inclusive, frictionless experience for customers in over 230 countries and territories.
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