Consumer Authentication is the Big Winner
Cleveland, OH (PRWEB) December 09, 2014 -- The first big Holiday Shopping weekend is in the books, and overall, eCommerce sales topped the same weekend in 2013 by 24 percent according to comScore. CardinalCommerce merchants enjoyed a whopping 48.2 percent gain for the same time period. That’s 2 times over the industry.
Not only are more merchants using Consumer Authentication, the resulting higher authorization rates resulting in an increase in sales. Cardinal’s Consumer Authentication gives banks more assurance to authorize payments. Said differently, Cardinal is seeing a higher conversion for their Merchant Customers. In addition to the significant sales increases, Cardinal’s Customers have less fraud to worry about because their transactions are protected by Consumer Authentication. Tara Lavelle, Vice President of Marketing, said, “Consumers like having their purchases protected and tend to have a higher average order value. This is a WIN-WIN for consumers, merchants and banks, truly a collaborative approach.”
According to the Associated Press and pymnts.com, online retail sales in the US on Cyber Monday almost hit $2.04 billion on desktop platforms. This was the highest single day sales number ever recorded in the US.
Over the past few years, this one-day online shopping extravaganza has turned into what is popularly coined as “Cyber Week.” Experts are even now referring to the holiday shopping season as “Cyber Month” where well before Thanksgiving into Christmas, deals are offered every day, which means merchants are seeing extended periods of high traffic.
These increases are attributed to several things: more people took to the Internet to purchase goods all weekend, and merchants using Cardinal Consumer Authentication increased sales and enhanced the consumer experience. With CCA, there are fewer false positives and more transactions are authenticated that would have been automatically declined, and the majority of consumers can buy without friction.
comScore: Dec 2, 2014
http://www.comscore.com/Insights/Press-Releases/2014/12/Cyber-Monday-Exceeds-2-Billion-in-Desktop-Sales-for-First-Time-Ever-to-Rank-as-Heaviest-US-Online-Spending-Day-in-History
PYMNTS and Associated Press: Dec 3, 2014
http://www.pymnts.com/news/2014/cyber-monday-recap-winners-and-otherwise/#.VIdq6DHF-Ah
About CardinalCommerce
CardinalCommerce is the pioneer and global leader in enabling authenticated payment transactions in the card-not-present payments industry since 1999. Through One Connection to our proprietary SafeCloudTM payment platform, CardinalCommerce enables friction-free, technology-neutral authentication and alternative payment services (including digital wallets and mobile commerce services). Cardinal services, partners with and complements most providers in the marketplace to deliver their One Connection to secure transactions. In accommodating this growing number of payment brands and methods, Cardinal's platforms serve as universal switches, supporting virtually all merchant platforms, wallets, legacy processing systems and authentication methodologies.
CardinalCommerce is headquartered in Cleveland, Ohio and services a worldwide Customer base from facilities in the United States, Europe and Africa. For more information, visit http://www.cardinalcommerce.com
Media Contact:
Tara Lavelle
VP Marketing
CardinalCommerce Corporation
877.352.8444
tlavelle(at)cardinalcommerce(dot)com
Tara Lavelle, CardinalCommerce, +1 (440) 352-8444 Ext: 228, [email protected]
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