Panasonic
Background
Panasonic is one of the UK's leading electronic retailers, operating through over 400 stores, e-commerce channels and B2B routes to market.
Panasonic UK was established in 1972 and since then the company has grown substantially and become a leading supplier of consumer and business related electronic products. Headquartered in Bracknell, Panasonic UK employs more than 500 staff with an annual turnover of £700million.
The Challenge
- With increasing volumes of customers needing to be processed quickly and efficiently, Panasonic quickly realised that to have a successful e-commerce strategy they also needed to ensure that their business was defended against fraudsters transacting on their site with stolen and cloned credit and debit cards.
- The company was being hit with an increasing amount of chargebacks and needed to drastically reduce these quickly and efficiently.
- Panasonic is known for being a higher priced site with a loyal customer base, therefore it was important that the solution delivered an appropriate ID check solution.
- Panasonic were keen to ensure that any new fraud prevention tool would complement existing internal measures already in place and act as an add on.
The Solution
- Instant customer name and address verification and information sharing
Panasonic initially started with a basic people finder package and found it so successful that they subsequently added Prove-ID, Address-ID and Fraud-ID to ensure their fraud prevention tools were as robust as possible.
By adding Prove-ID to their fraud solution Panasonic are able to validate addresses for 237 countries, check social security numbers in the US, and to verify name, address and telephone numbers in Europe, Australia, North America.
The most significant addition to Panasonic has been Fraud-ID giving fraud managers a unique opportunity to share vital fraud information with other retailers in a closed secure forum. Panasonic is one of the UK's leading electronic retailers, operating through over 400 stores, e-commerce channels and B2B routes to market.
"192 Fraud ID has opened communication between myself and my peers and has helped us in identifying definite patterns within certain fraud."
Fraud Manager at Panasonic
The Results
Panasonic saw an immediate change in fraud activity with a dramatic drop in chargebacks to less than 1% of turnover.
192's solutions have fitted in well with Panasonic's anti-fraud software and have been helping their fraud managers to make a more informed decision about their customers and potential fraudsters.
"The benefits of 192 Business Service were immediate with a dramatic drop in chargebacks in the first few weeks... 192 Business Services fraud solutions have enabled us to make our e-commerce site more robust and easy to use for our customers."
Fraud Manager at Panasonic