Payments: Declined, Declined, Declined
Do you know that up to 75% of all declined payments may be legitimate, so-called false positives? Globally, even using more conservative estimates, this represents hundreds of billions of dollars worth of valid purchases being blocked every year.
Imagine you could recover a percentage of these transactions. Imagine you could keep your valid customers happy without increasing your fraud risk…
Stifled emerging markets payments
It will come as no surprise that the number of declined transactions is much higher in certain markets. Asia suffers most with certain payment gateways having a decline-rates of more than 50%, but even in Europe decline rates can be as high as 25% of all transactions. High levels of fraud, poor identity infrastructures, etc. all aggravate these problems… but with the highest level of transaction growth coming from emerging markets, it’s about time to find a solution, something that doesn’t assume centuries of identity infrastructure is in place.
Are you ready to trade in emerging markets?
End of geo-blocking?
Many fraud engines are specifically configured to block transactions from high risk countries. Although this prevents fraud, one can only imagine how many valid transactions are caught in the melee. Such blanket decline-rules based on geography are now starting to receive attention from regulators who are wondering if such rules represent discrimination and should be banned.
Are you ready for your geo-blocking rules to be removed?
Friendly fraud (chargeback fraud) occurs when a consumer makes an online purchase with their credit card and then requests a chargeback from the bank after receiving their purchases. Once approved such chargebacks result in the merchant having shipped purchases which they never see payments for. Friendly fraud isn’t something that many merchants feel very friendly about.
Are you ready to tackle friendly fraudsters?
Veridu brings trust to the internet with consent-driven social media identity solutions. Our solutions can be integrated into your payment platform and fraud management solution to help your customers increase their profits, decrease fraud and maintain low chargeback rates.
Originally published at www.veridu.com on February 17, 2016.