Hunter Gives Fraud the Boot With Support From Adyen
- 20.04.2021 04:33 pm
Adyen (ADYEN:AMS), global payments platform for many of the world’s leading retailers, today announced that it supports Edinburgh-based heritage brand Hunter in reducing chargeback rates by 90% and expanding its global footprint.
Like almost all retailers in 2020, Hunter saw a significant increase in online orders as stores were forced to close due to the pandemic. As in-store retail had to move swiftly online, the chargeback risk to businesses grew and online fraud increased by nearly 20% in the months following the first lockdown.
Using Adyen’s risk engine, Hunter was able to reduce its global chargeback rates from 2% to 0.2% whilst keeping authorisation rates high. At the same time, Hunter was able to streamline its manual processes, such as blocking IPs and email addresses, by making use of Adyen’s data tools to automate the bulk of the workload. This has resulted in a more strategic approach to payments overall.
“Adyen has made a significant difference for us. We’ve gone from having to manually review literally thousands of transactions during peak periods, to a process that is much more dynamic and less labour intensive”, Bryony Longden, Senior Ecommerce Manager at Hunter said. “But it spans more than risk. Since partnering with Adyen, we now treat payments as a conversion-driver. This attitude-shift means that payments are now driven by the ecommerce team. As a result, we offer as many relevant payment methods as possible instead of simply favouring those that are cheaper and easy to implement. The flexibility to be able to switch payment methods on and off as needed has been really positive for us.”
Working collaboratively with Adyen’s fraud engineers has been key to Hunter’s success. Through continuous rule tweaking, and tailoring settings for each market, Adyen’s solution has helped cut fraud without blocking good customers.
“Hunter is a prime example of a heritage brand that continuously evolves to meet the needs of modern consumers. Sometimes it can be easy to say, ‘this is how we’ve done it for 150 years and it’s served us well’. Hunter has managed to adopt a modern approach to provide seamless experiences without losing any of the charm of its heritage.” Myles Dawson, Managing Director Adyen UK said. “Using our modern payments infrastructure has proved to be a solution for adaptability and growth.”