Webinar: Approval Rates: Optimizing Your Payments Supply Chain to Increase Sales

July 8, 2020
12:00-1:00 CST

This webinar was presented to MAG current and prospect merchant members.

View the presentation slides and recording (login required)

Poor approval rates can be the difference between securing a long-term customer and losing a sale. 1 in 5 declined transactions are made by genuine customers with sufficient means to pay. In addition, research shows that 52% of consumers will go to a direct competitor if their payment is unsuccessful. Addressing these issues is critical for merchants, even more so when considering the increase in eCommerce volumes due to COVID-19. However, with a vast array of tools, solutions and vendors available to merchants, all claiming to offer the best approval rates, how do merchants go about selecting the right one and avoid paying for something they don’t need? In this webinar, CMSPI’s approvals experts will explore the true causes of false declines, explain the different tools available to merchants, and provide practical tips which you can take away to help increase your approval rates. The potential return is high. False declines cost the U.S. merchant community over $150 billion a year: by working with stakeholders throughout the supply chain, merchants can enhance profitability and create a seamless, frictionless customer journey.

Learning Objectives:

  1. Identify what constitutes a ‘false decline’ and how these impact your customers
  2. Explore the tools available to merchants to optimize approval rates and reduce false declines
  3. Summarize how merchants can prepare for the post COVID-19 world by future proofing their payments architecture  

While everyone is welcome, the webinar will be especially helpful for:

VP of eCommerce
Fraud Prevention
Analysts
Payments
Treasury Managers or Analysts
IT Teams 
Payments Strategy Decision Makers

 

McFarlane-Toby Square Toby McFarlane - VP of Approvals & Fraud, CMSPI

Toby works with some of the world’s leading merchants to optimize transaction processing, using data science, supplier engagement and market intelligence. Toby’s work has resulted in increases to approval rates worth tens of millions in revenue for his clients. In his earlier years at CMSPI Toby led the development of CMSPI’s proprietary software tool, Vizion. Toby has master’s degree in chemistry and is a keen sportsman. He enjoys playing soccer as well as running, but only when the UK weather permits!
 
 
 
 
 
Thakur_Aditya_photo
Aditya Thakur - Approvals & Fraud Consultant, CMSPI

Aditya is a consultant on CMSPI’s Approvals & Fraud team where he leverages data science, supplier engagement, and market intelligence to help the world’s leading merchants optimize transaction processing. 
Aditya has previous background in IT Consulting and Big Data with a degree in Chemical Engineering. In his free time, Aditya can be usually be found taking apart his car or playing video games!

 



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