In fraud protection, speed is everything. Fast decision-making ensures that your real customers get a seamless experience without unnecessary delays and blocks scammers before they can wreak havoc.
But that doesn’t mean you should dash through every decision. Slower, more thorough reviews are necessary in cases involving higher-value goods, where accuracy and chargeback protection are critical. Here are some factors that might affect your decision speed.
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Finding the Perfect Decision Speed: ClearSale’s Decision Tree
Product Type
Digital goods often require instant access, while physical goods may allow for longer review times.
Business Risk Tolerance
High-risk industries or businesses with high chargeback rates may prioritize accuracy over speed.
Volume of Transactions
Businesses with high transaction volumes might need faster, automated decisions to maintain workflow efficiency.
Customer Expectations
Immediate decision-making for better customer experience, especially in fast-paced sectors like ecommerce.
Fulfillment Speed
Faster delivery expectations require quicker fraud checks to avoid delays.
Fraud Detection Complexity
Higher-value or more complex transactions might need longer analysis for a thorough fraud check.
Decision speed isn’t just about convenience—it's also about reducing the risk of fraud while maintaining a positive customer experience. Quick but accurate decisions can minimize false declines, preventing lost revenue from actual customers while protecting against fraudsters.
Choose the Right Decision Speed for You
What type of products do you sell?
