Title:
THE BALANCING ACT FOR IRISH E-COMMERCE RETAILERS BETWEEN MINIMISING FRAUD AND ENHANCING THE PAYMENT RELATED CUSTOMER EXPERIENCE
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Table of Contents
1.0 Dissertation Topic 3
2.0 Background 3
2.1 Significance of Research 4
3.0 Research Objectives 4
1. Consumer`s perception(s) of the 3D Secure payment process 4
4.0 Research Design 4
4.1 Research Design - Detail 5
5.0 Secondary Research – Sample Literature Review 7
5.1 3D Secure and the customer experience 7
5.2 The e-Commerce balancing act 8
5.3 Strategies to increase revenues and customer experience 9
6.0 Sampling Strategy 9
7.0 Research Validity 10
8.0 Bibliography 11
1.0 Dissertation Topic
The balancing act for Irish e-commerce retailers between minimising fraud, maximising sales and enhancing the payment related customer experience (focusing on the use of 3D secure)
2.0 Background
Irish consumers spent more than €3.7 billion online in 2012 (Amarach Research, 2013, p. 5). A total of €20.4 million was lost to fraud on Irish-issued payment cards over the same period. Card Not Present fraud (where cards are used fraudulently on the Internet, by mail order or over the phone) remains the biggest issue for the industry at 79% of the total card fraud in Ireland (Dillon, 2013, p. 2). This highlights a major challenges facing Irish e-commerce retailers, namely, finding the middle ground between minimising online security, limiting fraud related costs while in parallel maximising online sales revenues and optimising customer experience.
Traditionally, the “four Ps of marketing” (product, price, promotion and placement) represent the most crucial elements for successfully bringing a new offering to the market. However, for e-commerce, an effective marketing mix requires a fifth “P”, payments. Indeed, it is the last part in the purchase process and the end result of often costly marketing strategies...