{"id":2241,"date":"2020-02-26T13:33:43","date_gmt":"2020-02-26T08:03:43","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=2241"},"modified":"2024-07-23T11:42:54","modified_gmt":"2024-07-23T06:12:54","slug":"faq-ecommerce-questions-thirdwatch-webinar","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/faq-ecommerce-questions-thirdwatch-webinar\/","title":{"rendered":"All the Questions You Asked Us at the Thirdwatch Webinar!"},"content":{"rendered":"

Last month, Razorpay hosted its first-ever webinar on tackling e-commerce fraud in the 21st century. With over 250+ attendees, we had a detailed discussion on fraud detection, followed by a Q&A session.<\/span><\/p>\n

Throughout the Razorpay Thirdwatch<\/a> webinar, we had many questions being posed to the speakers about the state of e-commerce fraud today and different ways to tackle it. We managed to answer most of them and made sure to make a note of all the answers too.<\/span><\/p>\n

These questions mostly cover how small and medium businesses can cope up with the rising levels of e-commerce fraud. In addition to this, we’ve also provided a few tips and tricks on how you can internally tackle fraud apart from using tools like Thirdwatch<\/a>.<\/p>\n

Here goes, the answers to all the questions you had posed to the speakers at the Razorpay Thirdwatch webinar!<\/span><\/p>\n

Q. Is there any tool which can counter e-commerce counterfeit goods? How, as a business owner, can we fight these counterfeit traders from listing their products on an e-commerce platform?<\/b><\/p>\n

While there are many options to deal with fraud outside India, our country still lags behind in this. This is why Razorpay Thirdwatch is the first-of-its-kind solution for fraud detection, flagging suspicious orders, detecting non-deliverable addresses and much more.\u00a0<\/span><\/p>\n

Blanket blacklisting suspicious orders can prove to be very dangerous for business as there\u2019s a high chance that you can block out genuine customers. In terms of pricing, ease of integration and scaling, Thirdwatch can help small businesses selectively blacklist fraudsters according to their behaviour patterns, without letting it affect their business.<\/span><\/p>\n

Q. How can we deal with high numbers of RTO orders and what is the reason for the same? Any suggestions to increase online prepaid orders?<\/b><\/p>\n

It\u2019s no surprise that merchants face high numbers of RTO, especially while shipping to tier 3 and tier 4 cities. The reason for the same is due to the high proportion of incorrect\/incomplete addresses.\u00a0<\/span><\/p>\n

One of the ways to resolve this is to ensure that your customers enter the right address. You can also deploy multiple checks at different parts of the checkout process to keep a track of impulse purchases.<\/span><\/p>\n

As for suggestions to increase online orders, we\u2019ve written a detailed article on some of the <\/span>actionable hacks you can apply in order to increase your e-commerce sales<\/span><\/a>.<\/span><\/p>\n

Q. Do you have suggestions on what trust signals companies can give to customers assure guaranteed delivery?<\/b><\/p>\n

When you\u2019re just starting out your e-commerce business, it\u2019s important to keep your shipping expectations clear.\u00a0<\/span><\/p>\n

While you may put a lot of effort into maintaining your brand as a whole, a few errors in shipping may risk it all. This is because shipping could be the first real-time bridge between you and your customer after they purchase your product.\u00a0<\/span><\/p>\n

Read more here<\/span><\/a> on how startups can implement more efficient tactics to improve their shipping expectations. From packaging to marketing, we\u2019ve covered every aspect of why shipping is an aspect you just can\u2019t ignore. <\/span><\/p>\n

Q. What are good indicators to know fraud is happening at area level and not individual level?<\/b><\/p>\n

Although there are no hard-and-fast indicators to stereotype fraudsters, there are certain parameters you can use to determine fraud. If you have a Machine Learning algorithm set in place, then you can use that to detect patterns of fraud in certain pin codes.<\/span><\/p>\n

You can also generally observe user patterns to understand whether it is only one person or a group of individuals behind the activity.<\/span><\/p>\n

Q. There is no visibility on whether the courier partners attempt the delivery honestly. Is there any way to check and find if they are also a cause for RTO?<\/b><\/p>\n

Tight integration with an Order Management System (OMS) can help you keep an eye on your delivery partners. An OMS is an electronic system developed to execute securities orders in an efficient and cost-effective manner.<\/span><\/p>\n

Brokers and dealers use order management systems when filling orders for various types of securities and can track the progress of each order throughout the system. This can prove to be quite effective if you want to track every update of the shipping status.<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Related Read: Ecommerce Payment System?<\/a><\/span><\/p>\n

Q. What are the tools\/strategies you have in place to differentiate between good users and fraudsters?<\/b><\/p>\n

At Thirdwatch, we use over 300 parameters to differentiate between a genuine customer and a fraud. This includes a few features such as:<\/span><\/p>\n