False Payment Declines to Kill $682M in Holiday Sales: Report

U.S. retailers stand to miss out on $682 million in Black Friday and Cyber Monday sales from “inefficiencies” in their digital payment channels, reported the global payments consultancy CMSPI Tuesday. Holiday shoppers who flock to online channels “are more likely than ever to have their payment methods falsely declined,” it said. “This occurs when a legitimate transaction is either blocked or labeled as fraudulent, leading customers to try alternative payment methods or abandon the sale altogether, and shop at a different merchant. These lost rejected sales are only compounded during periods of large transaction volume.”