A staggering 80% of merchants have turned to third-party marketplaces like Amazon, Alibaba, and eBay to reach consumers. But are merchants leveraging these platforms effectively to maximise revenue and protect their brands against potential fraud? The upcoming Merchant Risk Council (MRC) Marketplaces Virtual Summit on 11 June 2024 promises to be an essential event for professionals navigating the complexities of online marketplaces.
At the MRC, we pride ourselves on offering the most practical solutions in the industry. Attendees will receive up-to-date analyses of marketplaces globally, including the significant percentage of marketplace sales compared to overall ecommerce sales. They will also learn why marketplaces are so popular with consumers and merchants and how to capitalise on that popularity.
Our industry-leading speakers and guests will present merchant case studies and best practices from influential marketplaces and industry experts. They will feature success stories and lessons learned in overcoming common challenges in marketplace operations. Our goal is to leave attendees with high- impact ideas and data they can incorporate into their everyday strategies.
We are also excited to welcome US and European experts who will discuss essential regulations for current marketplace merchants and those considering entering the marketplace.
Artificial intelligence (AI) and machine learning (ML) are amongst the hottest topics in the industry. Given their ubiquity, it's safe to say they will be woven into discussions at every level. While these technologies have been integral tools in the payments and fraud prevention strategies for many years, including in marketplaces, their evolving capabilities present many opportunities — but also many challenges. For example, while they are invaluable for detecting fraud, bad actors and cybercriminals are also using AI to develop sophisticated fraud schemes that bypass traditional security measures.
ML is also used to monitor and analyse user behaviour, detecting anomalies that may indicate fraudulent behaviour. This includes understanding the nuances of buyer-seller interactions in a marketplace setting. For those looking to continue boosting their efforts in this area, MRC frequently hosts complimentary webinars from our members that provide a wealth of information about using AI and ML to stay ahead of the curve.
Industry professionals are still acutely aware that ‘old-fashioned’ tools like policies, velocity checks, and traditional machine learning remain just as vital to their businesses as cutting-edge AI solutions.
Our virtual summit attendees will hear from global merchants why these traditional tools are still essential in the marketplace environment and how they complement modern technologies to create a robust fraud prevention strategy. By combining the 'old school' techniques that have built the payments and fraud prevention industries with the newest innovations, merchants can maximise their security efforts, especially in the realm of marketplace utilisation where third-party platforms play a significant role.
In addition to some of the answers teased above, we will also cover how marketplace/brand credibility needs to be even more closely safeguarded. Bad actors can use AI to appear as legitimate sellers and buyers, which can be damaging to any brand.
We will also touch on the emerging trend of recommerce among sustainability-minded younger consumers. Environmentally-friendly solutions like secondhand sales are becoming increasingly important, and merchants embracing this trend will attract and retain this crucial demographic. However, this also exposes merchants to risks like counterfeit goods, payment fraud, and first-party misuse.
Ultimately, our speakers will also touch on how marketplaces provide even more opportunities for personalised service and the need to validate product authenticity. Overall, our virtual summit attendees will come away armed with game-changing information and ideas to make the most of their marketplace strategies.
Covering a wide range of topics from regulatory compliance to thought-provoking case studies, the MRC Marketplaces Virtual Summit is a can’t-miss event for any merchant using marketplaces to reach consumers. It is a unique opportunity to learn from industry experts and gain practical knowledge to enhance your marketplace operations. Registration is complimentary for MRC members and only USD 99 for non-members for this engaging half-day online event.
Laura is an inspiring leader and experienced professional in payments, risk, and fraud, with a proven track record of delivering results. Her core skills include banking, card-not-present transactions, subscription billing, and ecommerce. As the Senior Director of Conference and Webinar Programming for the Merchant Risk Council, Laura sources and enlists industry experts, thought leaders, and dynamic speakers for global events. She builds and maintains relationships with potential speakers, fostering a diverse network of influential voices within the e-commerce payment and fraud sector. A seasoned speaker, Laura has earned several speaking accolades and has held various leadership positions within Toastmasters.
The Merchant Risk Council (MRC) is a global nonprofit community dedicated to enabling safe and profitable eCommerce by providing platforms for networking, education, and advocacy. The MRC brings together a diverse network of professionals to collaborate on strategies and solutions for managing risk and preventing fraud in digital commerce. With a focus on innovation and best practices, the MRC supports its members in navigating the challenges and opportunities of the evolving ecommerce landscape.
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