Global eCommerceADDITIONAL PRODUCTS TO HELP YOU
FraudSight
Following the COVID 19 media coverage, we’ve seen an increase in eCommerce transactions and fraudsters are looking to take advantage. Protecting your business as well as your customer’s data is critical during this pandemic.
FraudSight is an in-authorization fraud mitigation solution powered by artificial intelligence and machine learning. It turns your hindsight into foresight by stopping high risk transactions while letting the good transactions through by leveraging:
- Data – using our visibility into 40 billion transactions annually. This helps us better asses the true intent of the payment transaction.
- Technology – We’ve built leading machine learning technology that dynamically monitors transactions in real-time during the authorization process.
- Experience – We utilize 40 years of processing payments, 15 years of fraud experience, and in-house data and fraud experts to help protect your business.
FraudSight can be deployed with little-to-no additional integration. With FraudSight, we can help protect your business by helping to increase approval rates and helping to stop fraud before it happens. Reach out to your Relationship Manager to learn more.
Disputes
The global pandemic has impacted every single business, while cancellations and postponements are leading consumers to contact merchants for refunds or, simply, to call their banks for disputes. You need to be ready for the increased chargeback risk. More chargebacks mean lost revenue and merchandise, additional fees and fines, and poor customer satisfaction.
Disputes solutions suite (Disputes Deflector and Disputes Defender) is a dual-layer protection against chargebacks, first deflecting them before they arise and then fully managing chargeback defences on your behalf. We partner with Chargebacks911 to provide the best chargeback solutions to you.
With Disputes Deflector you
- Get notified earlier in the chargeback lifecycle
- Prevent a dispute from turning into a chargeback
- Reduce the overall number of chargebacks to your business
Disputes Defender will help you save time and money fighting chargebacks by:
- Providing end-to-end chargeback management
- Gain a cost-effective approach and partner to defend chargebacks on your behalf
Our Disputes solutions are success-based models, there are no upfront fees and we simply retain a percentage of the revenue we recover for you. Please reach out to your Relationship Manager to get started.
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Fraud Chargeback Prevention Service
One key tactic to protect your revenue from fraudulent activities associated with the coronavirus outbreak is to take control of fraudulent transactions before they turn into chargebacks. Worldpay’s Fraud Chargeback Prevention Service (FCPS) actively gathers fraudulent transaction data provided by issuers, which can help you take control of chargebacks and mitigate fees, fines, and reputational damage. It features:
- Daily fraud advice report – Reduces chargebacks by proactively identifying actionable transactions
- Automated chargeback refunds – No additional work to manually refund transactions identified as fraudulent
- Detailed post-deposit impact report – Displays chargeback timelines and effectiveness of refunding
Deploying services quickly helps protect revenue and prevent future loss. FCPS does not require any additional integration - we can easily turn it on for you.
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Pazien
Data and analytics are critical components to understanding the health of your business, especially during these unprecedented times.
Pazien gathers your transactional data daily and unearths performance discrepancies, weaknesses, and successes that empower you to make strategic decisions that impact the bottom line.
- Customize Performance Alerts – Get notified when declines spike, sales drop, refunds increase, or chargeback rates change. Alerts specify payment methods, banks, MIDs, regions, and more that affect your business most.
- Data Deep-Dives – Maximize initial approvals and speed-to-revenue for recurring and non-recurring card-on-file payments
- Pinpoint Highest Cost Factors – From missed opportunity declines, to erroneous refunds, to technical chargebacks – Pazien’s trend graphs and data tables expose where money is left on the table so you can adjust your plan.
- SaveTime Reconciling – Understand settlement batches and view individual transaction details. Export any date range of data so you spend less time reconciling and more time strategizing.
Pazien reporting is available for all Worldpay customers. If you’re already using Pazien, sign in today to take advantage of our special offer or reach out to your relationship or support manager for information.
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3DS Flex
In these uncertain times, more commerce is moving online than ever before – and your business needs to ensure that these transactions are protected.
3DS Flex balances risk reduction with a seamless payment experience. For many years, 3DS1 has been a valuable tool proven to reduce fraud and increase authorization rates. Now, it’s getting even better with upgraded, modern features that will take out friction and give cardholders an improved checkout experience.
3DS Flex helps your business comply with PSD2 by December 2020 and supports 3DS2, a global solution to the authentication challenge
- More Data and Less Friction – With 3DS2, issuers can receive more than 100 data elements with each transaction. They have the information they need to authenticate transactions invisibly, and only challenge the riskiest ones (typically 10% of volume).
- Sales Uplift – When challenged to authenticate their purchase on their issuer’s page, shoppers will be offered a range of options, such as one-time passwords or biometric recognition. Improved authentication lowers fraud, resulting in more revenue for you
- Mobile Optimization – 3DS2 supports non-browser card-not-present payments, so in-app, mobile and digital wallet transactions are now optimized for authentication.
With a single integration, we help you mitigate fraud risk, reduce PSD2 compliance costs, and create better, safer customer experiences. Please reach out to your Relationship Manager to discuss the integration.
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Recovery
Service interruption due to card reissuance will, at best, make for a very poor customer experience and, at worst, lead to attrition – especially as consumers increasingly tighten their belts due to extended economic uncertainty.
Recovery is a sophisticated and automated account updater service that maximizes eCommerce approvals, minimizes card-on-file declined authorizations, and increases revenue.
- Fully-Managed, Turnkey Service – Reduce costs and time-to-launch
- Real-Time Card Updates – Maximize initial approvals and speed-to-revenue for recurring and non-recurring card-on-file payments
- Portfolio Conversions – Capture card updates when issuers convert portfolios from one scheme to another.
Recovery does not require any additional resources on your part to run or manage it. We can just turn it on for you – no technical integration needed.
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Issuer Insights
Knowing how the COVID-19 crisis has impacted your customer base and how they are choosing to purchase goods or services can help you adjust to the rapid shift in consumer behavior.
Issuer Insights aligns merchant performance with issuer attributes, peer benchmarking, and customer characteristics to help improve transparency and provide deeper understanding of cardholders. Issuer Insights also allows you to analyze how your consumers reacted to the crisis, and gain insight on what you can do next.
- Issuer/Card Attributes – Sharpen your strategic decision making with full card product details and more than 20 card attributes including: card type, country of issuance, and Account Updater participation.
- Peer Benchmarking – Anchor issuer performance evaluation with approval rate benchmarking for your MCC for each card product.
- Customer Segmentation – Use affluence indicators to segment customers and to assess alternative views of customer value.
Issuer Insights can be implemented with no coding investment required.
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Prime
When business slows down as in these unprecedented times, cost savings take on an even more pronounced imperative.
Prime is an advanced, fully-managed, data-driven debit routing service that examines each eligible transaction and routes it to the optimal network, based on your network strategy or the lowest possible cost.
- Cost Reduction – Through Prime, you can achieve lower debit card processing fees aggregated across your entire debit spend (Interchange and Assessment), and can save as much as 6% on these costs.
- Data Science – Prime is driven by our data science team, assessing the best route for every transaction. We can even evaluate the potential costs savings for you before the service is live.
With Prime, you need little-to-no software development. We enable the service, and you reap the cost-savings rewards. Plus, you benefit from a single relationship with the world’s leading payments processor for both your credit and debit card transactions.
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MERCHANT SERVICES SCAM ALERT
We have received reports of businesses being contacted by callers claiming to be representatives of a merchant services provider. These callers are telling merchants that their current provider is shutting down due to the COVID-19 situation. They proceed to tell the merchant they need to switch processors to continue accepting electronic payments.
If your business is targeted, please know that this is part of a scam and not legitimate. Worldpay will continue to be your trusted partner and support your payment processing needs.