Ecommerce enabler GoKwik says proliferation of fake orders rising online
economictimes.indiatimes.comEcommerce enabler GoKwik said there is an increasing proliferation of fake orders on ecommerce platforms from people who provide gibberish contact and address details, impacting the cost of operations for companies.
«Over the last two weeks, we have observed 2-10% of total orders being fraudulent on the affected merchants. For some, it has been as high as 15-20%. However, with our return to origin (RTO) risk intelligence and fraud prevention mechanisms, we were able to intervene and safeguard merchants immediately. We fear that the actual number of brands affected in the overall ecosystem outside of GoKwik network will be far higher,» said Chirag Taneja, cofounder and CEO of GoKwik.
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Offering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitThe company has over 1,200 ecommerce brands in its network including Lenskart, Neemans, Man Matters, Purplle and Shoppers Stop in fashion, beauty, health and nutrition, electronics and other key categories.
Online shoppers continue to increase in India but cash on delivery (COD) remains the preferred mode of payment. The chances of RTO are significantly higher in these orders as opposed to prepaid orders. GoKwik offers a range of solutions that can predict customer behaviour and help sellers prevent RTOs while
