If even one item were to be removed or moved, it could send the whole thing toppling over, leaving the customer angry or frustrated and the restaurant with a huge clean up ahead of them.
Just as a server has to strike the perfect balance when delivering food, businesses must find the best way to balance convenience with security.
Not doing so and prioritizing one over the other could be detrimental. A business that has great security such as requiring passwords and PINS to checkout may deter customers who see it as too much of a hassle. But a company that has a quick and easy checkout experience may wind up putting their customers’ personal information and their own bottom line at risk.
Like many of life’s balancing acts, this can be a delicate situation.
According to the 2019 American Express Digital Payments Survey, 27% of online sales end in fraudulent transactions. Additionally, 69% of merchants said that they’ve allocated significant time and money to dealing with payment fraud over the years.
Hearing this, it seems like the easy thing to do would be to beef up security by adding extra layers of protection. However, merchants can’t simply throw convenience out the window. It’s still an extremely important part of the online shopping experience.
Rather, businesses must improve the online experience with payment innovation and fraud detection technology.
Check out our video below and keep reading for a glimpse into our guide Understanding Payment Fraud and How You Can Mitigate Your Risk.