There’s a big gap in digital commerce. Merchants have very detailed data on their entire customer journey up until one of the most critical points: the payment. At that point, many are lacking clear visibility and real insight into their approval rates and other business metrics, often resulting in loss of revenue and higher total cost of payments acceptance. This is mainly due to unclear or insufficient payment data—payment data with which they could easily answer questions like Why are 15% of my orders declined and what could/should I do about that? Most merchants don’t have easy access to the answers.
Participants in the ecosystem such as payment gateways, payment service providers (PSPs), third-party fraud tool providers, BIN service providers, acquiring banks, card brands, and issuing banks (and APM schemes) must all come together in some capacity for a single payment to go through successfully.
All these layers between buyers, merchants, and approved transactions have different technology standards, formats, data fields and, most importantly, definitions of data and data fields—both in what is sent out (for approval) and what comes back (in response). It all adds up to a huge challenge for businesses to easily access and turn payments data (whether from one or many PSPs/processors) into actionable insights. How can you improve performance if you don’t know what to tweak or why? How can you monitor any changes over time?
All merchants have some form of blind spots in their payments data that can help them uncover and address costly issues or opportunities to improve. And what could be more relevant today—in an economy where companies, teams, and people are being asked to do more with the same (or less) resources—than finding ways to optimize your existing payment stack?
Brigette Korney
Senior Director, Payments and Fraud - Groupon
With more than 13 years of experience in the e-commerce space, I am a seasoned fraud prevention and payment processing/operations professional. In my current role as Senior Director at Groupon, I lead multiple teams responsible for driving operational processes, vendor relationships, and data analytics for our global fraud prevention and consumer payment acceptance platforms. I am currently an active member of several MRC groups - the Americas Advisory Board (AAB), the North America Conference Committee, and Women in Payments & Fraud.
