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Return fraud is rising. E-commerce platforms are done playing nice
Return fraud is rising. E-commerce platforms are done playing nice

Mint

time03-07-2025

  • Business
  • Mint

Return fraud is rising. E-commerce platforms are done playing nice

Bengaluru: A designer dress is returned—only it's been swapped for a used T-shirt. In another case, fraudsters created fake accounts and dummy addresses to claim ₹1.1 crore in refunds from Myntra, without returning a single product. These aren't isolated incidents. E-commerce platforms say they're part of a fast-growing pattern of return fraud that's costing the industry thousands of crores. As fraudulent claims surge, platforms are rethinking their once-liberal return policies—an issue that's quietly eating into margins and prompting course corrections across the industry. While genuine returns remain a core part of the online shopping experience, platforms say deliberate misuse—through false delivery claims or product swaps—is rising fast. According to Vanita Pandey, chief marketing officer at global compliance and fraud prevention firm Bureau, Indian e-retailers lost as much as ₹15,000 crore ($1.8 billion) to e-commerce fraud in FY24, a category that includes return-related abuse among other forms of digital fraud. More recent data was not available. Mint asked several leading e-commerce platforms for data on return rates and return fraud. Most did not respond. Myntra and Zepto were the only companies that shared comments, though neither disclosed figures. Flipkart, Amazon, Meesho, Purplle, and Nykaa did not respond to emailed queries. Quick-commerce players Swiggy and Blinkit also declined to comment. While platforms don't publicly disclose return volumes, industry estimates suggest return fraud may account for around 10% of all returns in Indian e-commerce. Overall, about 15–16% of all e-commerce orders are either partially or fully returned, according to research firm Forrester. Globally, e-commerce firms lost an estimated $103 billion to return fraud in 2024. Platforms have long relied on easy returns to attract and retain customers. But reverse logistics—often costlier than forward shipping—has made the model increasingly unsustainable. The shift comes at a pivotal moment: even as online shopping expands into newer geographies, companies are still posting significant losses. Flipkart's marketplace business reported a loss of ₹2,358 crore in FY24, while Amazon's touched ₹3,469 crore. 'While some part of the fraud is being done by bots, consumers too are increasingly exploiting policies," said Pandey. 'Instances of fraud in India are significant simply by virtue of the size of the country. And it's getting more sophisticated." To counter this, e-commerce platforms are rolling out tighter rules. Customer experience vs fraud control Flipkart-backed Myntra, for instance, unilaterally suspends accounts with high return rates and disables cash-on-delivery for users who frequently cancel or reject orders. The platform also collects a fee on low-value orders and now permits exchanges for different products—not just size or colour—as a way to reduce return volumes. It has also introduced features such as detailed product information and virtual try-ons to help customers make better purchase decisions. 'In recent months, we have improved the return rates while enhancing the shopping journey of our customers," a Myntra spokesperson said. Amazon has shortened the return window for categories like fashion, home décor, and accessories to 7 days from 30, and reserves the right to warn or suspend users for excessive returns or cancellations. Marketplaces have been tightening return policies gradually over the past few years. In 2023, Myntra began charging ₹199– ₹299 for customers with a high return rate. But as return fraud continues to rise, platforms are now scrutinising customer behaviour more closely. Quick commerce companies like Blinkit, Swiggy Instamart, and Zepto—while newer to the space—are also adapting. These platforms had introduced easy return options last year, but their smaller product ranges have limited exposure to the kind of refund fraud plaguing broader e-commerce. 'We verify every return request, and if it's genuine, we go ahead and process it," said a Zepto spokesperson. 'Returns are also easier to manage on our platform since our delivery partners operate within a defined, local radius." D2C brands feel the heat Direct-to-consumer (D2C) brands are facing the impact as well. Chirag Taneja, co-founder and CEO of enablement platform GoKwik, said about 12% of customers return at least half of six orders, raising concerns for companies selling through their own websites. GoKwik works with over 4,000 brands including Lenskart, Shoppers Stop, and Purplle. 'Some categories are easier to exploit than others," Taneja said. 'Fashion and general merchandise see higher return rates than beauty and consumer electronics, where policies are generally stricter." According to a 2024 report by GoKwik's Return Prime, frequent returns could cost Indian e-commerce companies $20-30 billion in lost revenue by 2025. This compares to an industry expected to touch $188 billion in size by then, according to the Brand Equity India Foundation citing Grant Thornton estimates. India's online shopping gross merchandise value (GMV) stood at around $60 billion in 2024 and is projected to grow to $170-190 billion by 2030, according to a report by Flipkart and Bain & Co. Independent experts say the rise in returns—and the resulting policy pushback—could reshape customer experience. Ashutosh Sharma, vice president and research director at Forrester, said this significantly impacts margins and can be especially challenging for newer players. 'The abuse by a few makes it difficult for providers to continue with customer-friendly features such as shorter return windows or no-cost returns, which leads to an overall impairment in the experience," Sharma said. Sharma also flagged problems on the seller side. 'Platforms prone to returns like apparel and fashion have introduced some checks, but they still need to tidy the ship on their side," he said. 'We still have issues such as incorrect or incomplete descriptions, delivery of wrong or defective products, or in some cases, outright fraud—all of which contribute to returns." The challenge for platforms is to strike a balance. Taneja said brands that remove easy-return policies risk losing up to 50% of their GMV, especially as most online shoppers prefer brands that offer hassle-free returns. A poor return experience can also cost brands 8% in potential repeat revenue annually, according to GoKwik data. 'The no-questions-asked policy is being closely scrutinized because of growing cases of misuse. But returns continue to be an integral part of the customer experience, so no brand will completely stop returns," Taneja added.

Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer
Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer

Economic Times

time15-05-2025

  • Business
  • Economic Times

Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer

Bureau has appointed Vanita Pandey as CMO to spearhead the company's global go-to-market (GTM) engine. Bureau, an identity and risk decisioning platform, has appointed Vanita Pandey as Chief Marketing Officer to spearhead the company's global go-to-market (GTM) engine and power its next phase of growth. Vanita will lead the next wave of Bureau's innovation-led marketing—from pioneering AI-driven GTM strategies and executing demand generation engines, to strengthening the company's position as the go-to digital trust partner across both mature and high-growth markets spanning the Americas, Middle East, and Southeast Asia. Vanita's appointment follows Bureau's recent Series-B round led by Sorenson Capital and PayPal Ventures, and the addition of Chief Analytics and Risk Officer Venkat Srinivasan — milestones that underscore Bureau's momentum as it expands its global identity and risk decisioning footprint. Vanita brings 15+ years of deep domain expertise at the intersection of digital identity, fraud prevention, and financial services. Previously, she has held senior marketing roles at US-based Arkose Labs, Simility (acquired by PayPal), ThreatMetrix (acquired by LexisNexis), Visa, Capital One, and most recently LATAM-based CAF—where she consistently built impactful marketing programs, drove international expansion, and shaped go-to-market narratives in complex, regulated industries. Vanita's appointment serves a critical purpose in Bureau's mission to become the de facto trust infrastructure for the digital economy. She will closely work with the product and sales teams to improve Bureau's product positioning and develop a thought leadership platform that anticipates market inflection points and emerging risk vectors. Her tightly aligned strategy would be crucial in building compelling narratives that establish Bureau as the preferred identity and risk intelligence partner among fintechs, banks, and digital-native businesses. Bureau's Founder & CEO Ranjan R Reddy said in a statement, 'In a market where trust drives growth, clarity and narrative are strategic advantages. Vanita knows how to turn complex risk and identity challenges into stories that win customers and shape industries. Her leadership will be key as we scale globally and become the first call for companies serious about fighting fraud and managing risk. Her proven ability to build global demand engines from the ground up will be instrumental in the realization of Bureau's vision.'Speaking about joining Bureau, Vanita said, 'What excites me is Bureau's mission-critical approach to scale—driven by the aim to future-proof the digital economy. I look forward to scaling a global brand that doesn't just react to market shifts but operates ahead of them, shaping how businesses worldwide think about identity, risk, and trust.'

Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer
Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer

Time of India

time15-05-2025

  • Business
  • Time of India

Bureau brings ex-PayPal, Visa Vanita Pandey as Chief Marketing Officer

Bureau, an identity and risk decisioning platform, has appointed Vanita Pandey as Chief Marketing Officer to spearhead the company's global go-to-market (GTM) engine and power its next phase of growth. Vanita will lead the next wave of Bureau's innovation-led marketing—from pioneering AI-driven GTM strategies and executing demand generation engines, to strengthening the company's position as the go-to digital trust partner across both mature and high-growth markets spanning the Americas, Middle East, and Southeast Asia. Vanita's appointment follows Bureau's recent Series-B round led by Sorenson Capital and PayPal Ventures, and the addition of Chief Analytics and Risk Officer Venkat Srinivasan — milestones that underscore Bureau's momentum as it expands its global identity and risk decisioning footprint. Vanita brings 15+ years of deep domain expertise at the intersection of digital identity, fraud prevention , and financial services. Previously, she has held senior marketing roles at US-based Arkose Labs, Simility (acquired by PayPal), ThreatMetrix (acquired by LexisNexis), Visa, Capital One, and most recently LATAM-based CAF—where she consistently built impactful marketing programs, drove international expansion, and shaped go-to-market narratives in complex, regulated industries. Vanita's appointment serves a critical purpose in Bureau's mission to become the de facto trust infrastructure for the digital economy. She will closely work with the product and sales teams to improve Bureau's product positioning and develop a thought leadership platform that anticipates market inflection points and emerging risk vectors. Her tightly aligned strategy would be crucial in building compelling narratives that establish Bureau as the preferred identity and risk intelligence partner among fintechs, banks, and digital-native businesses. Bureau's Founder & CEO Ranjan R Reddy said in a statement, 'In a market where trust drives growth, clarity and narrative are strategic advantages. Vanita knows how to turn complex risk and identity challenges into stories that win customers and shape industries. Her leadership will be key as we scale globally and become the first call for companies serious about fighting fraud and managing risk. Her proven ability to build global demand engines from the ground up will be instrumental in the realization of Bureau's vision.' Speaking about joining Bureau, Vanita said, 'What excites me is Bureau's mission-critical approach to scale—driven by the aim to future-proof the digital economy. I look forward to scaling a global brand that doesn't just react to market shifts but operates ahead of them, shaping how businesses worldwide think about identity, risk, and trust.' Live Events

Bureau appoints Ex-PayPal, Visa executive Vanita Pandey as chief marketing officer
Bureau appoints Ex-PayPal, Visa executive Vanita Pandey as chief marketing officer

Time of India

time14-05-2025

  • Business
  • Time of India

Bureau appoints Ex-PayPal, Visa executive Vanita Pandey as chief marketing officer

HighlightsBureau, an identity and risk decisioning platform, has appointed Vanita Pandey as Chief Marketing Officer to lead its global go-to-market strategy and drive hypergrowth. Vanita Pandey brings over 15 years of experience from leading firms such as PayPal, Visa, and Capital One, where she has successfully built marketing programs in regulated environments. As Chief Marketing Officer, Pandey will focus on enhancing Bureau's brand presence and pioneering AI-driven marketing strategies to position the company as a leader in digital trust across various global markets. Bureau , an identity and risk decisioning platform, has announced the appointment of Vanita Pandey as chief marketing officer . Pandey, an executive with over 15 years of leadership experience from global firms including PayPal and Visa, will spearhead Bureau's global go-to-market (GTM) engine and drive the company's next phase of hypergrowth and market leadership. Pandey's appointment comes as Bureau pushes for global expansion, leveraging her extensive background across the identity, fraud prevention , and financial services sectors. She has previously helmed GTM and marketing initiatives at global brands and industry-leading startups, bringing a wealth of experience in building impactful marketing programs in complex, regulated environments. As Bureau's CMO, Pandey will play a pivotal role in sharpening the brand's global edge and accelerating product-led growth. Her responsibilities will include developing and executing high-impact GTM strategies, leading performance-driven demand generation programs, and spearheading integrated marketing initiatives. She is tasked with pioneering AI-driven marketing approaches and strengthening Bureau's position as the go-to digital trust partner across both mature and high-growth markets spanning the Americas, the Middle East, and Southeast Asia. With over 15 years of deep domain expertise, Pandey brings a wealth of experience from the intersection of digital identity, fraud prevention, and financial services. Her distinguished career includes senior marketing and GTM roles at prominent US-based companies such as Arkose Labs, Simility (acquired by PayPal), ThreatMetrix (acquired by LexisNexis), Visa, and Capital One. Most recently, she served at LATAM-based CAF. Throughout her career, she has consistently built impactful marketing programs, driven international expansion, and shaped go-to-market narratives. Pandey's appointment serves a critical purpose in Bureau's mission to become the de facto trust infrastructure for the digital economy. She will collaborate closely with the product and sales teams to refine Bureau's product positioning and develop a robust thought leadership platform that anticipates market inflection points and emerging risk vectors. Her tightly aligned strategy will be crucial in building compelling narratives that establish Bureau as the preferred identity and risk intelligence partner among fintechs, banks, and digital-native businesses globally. Commenting on the appointment, Ranjan R Reddy, Bureau's founder and chief executive officer, said, 'In a market where trust drives growth, clarity and narrative are strategic advantages. Vanita knows how to turn complex risk and identity challenges into stories that win customers and shape industries. Her leadership will be key as we scale globally and become the first call for companies serious about fighting fraud and managing risk. Her proven ability to build global demand engines from the ground up will be instrumental in the realization of Bureau's vision.' Speaking about her new role, Pandey shared, 'What excites me is Bureau's mission-critical approach to scale—driven by the aim to future-proof the digital economy. I look forward to scaling a global brand that doesn't just react to market shifts but operates ahead of them, shaping how businesses worldwide think about identity, risk and trust.'

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