A payments fraud solution protects against digital fraud across the entire customer journey. First, the solution analyzes data from every online interaction using advanced AI equipped with supervised and unsupervised machine learning. Then it compares that data to billions of other interactions in the Identity Trust Global NetworkTM to establish the level of trust or risk for the customer and the interaction in real time.
As part of Kount’s Assess digital fraud solutions, a payments fraud prevention solution provides insights from payment transactions and customer interactions. From there, you can decide if a site visitor is worth doing business with and extending offers to.
Automate approve and
Reduce false positives
and false declines
Customize policies and rules
according to business needs
Reduce friction for good
Accept more good orders
to increase revenue
Use data to inform future
Let’s say a user interacts with your e-commerce website or mobile app. Kount’s payments fraud solution uses integrated dashboards, data mining, reporting, and workflow tools to restructure raw data into a comprehensive presentation of relevant information. As a result, you can accurately assess the risks associated with the user and the interaction.
After that, you can plan and manage risks, staff workload, transaction queue, rule effectiveness, and more. And you can set policies to approve or decline the interaction automatically. Thus, you can accept more good orders, reduce false declines, and increase revenue.
After implementing Kount’s payments fraud solution, Brooks reduced its chargeback rate by 92%. Once chargebacks were under control, Brooks could use Kount’s networked data to access new revenue from international markets. Instead of declining international credit cards, they could start accepting them, unlocking hundreds of thousands of dollars in new revenue.
Fraud is an ever-evolving landscape full of bad actors looking to gain a profit from relief funds, payment methods, and anything in between. The buy-now-pay-later (BNPL) model is a growing trend in e-commerce. But it may be harder to adopt than anticipated. With the right digital enablement solution, businesses can better manage risks and customer experiences associated with new payment models.
Kount’s payments fraud solution can help you accept more good orders and reduce false declines