Vivek Nayak, COO of CC Avenue. Prior to joining CC Avenues in the year 2002, Vivek has had 13 years of experience working in critical operational and decision making positions in the areas of business development, brand management for India’s leading brands and at WPP Group, Draft FCB & Grey Worldwide.
The team of Lets Talk Payments caught up with Vivek at a conference in Mumbai. This post is the 2nd of the 2 parts of the video interview with him. You can see the first part of the video interview here. During the interview some of the questions for which Vivek shared his views on payments include:
Q.4. How would you define fraud and risk in payments parlance? How important is fraud detection and prevention at your kind of scale?
Q.5. How does CC avenue deal with Fraud? is it through analytics, negative databases, industry wide databases?
Q.6. If all the players share their negative databases in a secured fashion and it becomes an industry wide database, it would be great to prevent fraud right?
Q.7. What is the output and the result of fraud analytics that you do? how do you keep fraud as a fraction of a percent?