“I would say Riskified changed our lives.”
Eileen Shulock, VP eCommerce at Kirna Zabête
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All posts with the tag Ticketing

The global online event ticket market is strong and growing, valued at $30 billion annually, and exhibiting an impressive 19% compound annual growth rate. In the US alone, revenue is expected to exceed $10 billion in 2017.

The move online has clearly benefited consumers, but the changing business landscape creates challenges for ticket sellers. One such challenge stems from the high resale value of tickets, combined with an increase in the liquidity of secondary markets. This combination attracts fraudsters who are looking for a quick score. They can buy expensive tickets with stolen credit card information and then easily sell them secondhand.

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In the rapidly growing eCommerce market, high-friction and time-consuming identity verification processes can have a significant impact on customer acquisition and retention rates. Airlines and online travel agencies (OTAs) face the precarious balancing act of protecting revenue from CNP fraud, while providing a smooth shopping experience. When competing travel sites offer interchangeable products, brand loyalty is vital, as customers tend to be even less forgiving if merchants fail to meet their expectations.

In this article I share five actionable tips for driving online revenue while providing a good shopping experience without incurring fraud-related losses.    

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We recently published a report on fraud in the ticketing industry, based on data we compiled in the process of our work with leading ticketing merchants. Now, we’ve taken some of the key data sets from it and presented them in an informative infographic. Use it to get a visual window into the patterns fraudsters exhibit when targeting event ticket sales. After you’ve finished looking it over, you can download the report itself to gain even more insights into the data presented here.

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It’s an exciting time to be in the event ticket industry. In the US alone, online retail sales are expected to reach $334 billion this year, and will continue growing. Online event ticket sales, meanwhile, are projected to grow at an average annual rate of 3.1% between now and 2019.

Riskified has been fortunate to work with some great ticketing merchants, including viagogo and Ticket Evolution, and has been helping them drive ticket sales while avoiding CNP fraud. Today, we published a report about fraud in the ticketing industry, based on data we compiled in the process of our work.

The following post includes a small taste of the insights and data included in our report about CNP fraud in the ticketing industry.

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