Kount Blog | payment service providers
Blog Against Fraud

What’s the Next Big Thing for Payment Service Providers?

Posted on Thursday, March 23, 2017

These new trends, technologies and innovations are stirring things up in the payments space:

  • B2C and corporate payments
  • Blockchain solutions
  • Immediate payments
  • In-app payments (e.g., Uber)
  • Mobile wallet, NFC and other technologies
  • Non-banking players entering market
  • Security and authentication enhancement
  • Social and mobile commerce
  • Virtual currencies
  • Virtual reality shopping experiences with integrated payments

However, the expense, IT resources, and time required for Payment Service Providers (PSPs) – i.e., issuers, acquirers, payment processor, payment gateways, eCommerce platforms, etc. – to capitalize on these various trends differs greatly. Similarly, the risks and rewards vary widely. Sorting through the possibilities and permutations can be daunting.

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Topics: cnp fraud, payment service providers

PSPs: Is Portfolio-Level Fraud Prevention a Viable Option for You?

Posted on Thursday, February 23, 2017

A growing number of Payment Service Providers – including BlueSnap, Braintree, Chase Paymentech, GoECart, Magento, and X-Cart -- are offering portfolio-level fraud prevention as a baseline service to their merchant accounts.

As a result, they’ve seen some impressive results:

  • “Our business has doubled while the chargeback rate for our merchants has declined 500%,” says John Johansen, Fraud Manager at BlueSnap.
  • Portfolio-level fraud prevention helps Braintree deliver next-generation online and mobile purchasing experiences to innovators like Airbnb, Angry Birds, Fab, Hotel Tonight, TaskRabbit and Uber. "Braintree’s payment platform will help us manage fraud without dedicating resources or integrating with a third party,” reports Vlad Gurgov, CTO and co-founder of Virool. “We’re confident we have the right partner to help us recognize fraudulent activity and take action immediately, so we can focus on our business."
  • Manish Chowdhary, CEO of GoECart, points out another benefit: “GoECart clients will enjoy a seamless and rapid onboarding process as well as great pricing for the solution.”
  • Of course, merchants see big benefits too. Chase Paymentech merchants saw their chargebacks drop 30% to 50%. Other merchants saw increases in their top-line revenues. One top Internet retailer handling more than 25,000 orders per day was able to consolidate its fraud review program to a single full-time employee.
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Topics: portfolio level fraud prevention, payment service providers

PSPs: 5 Best Practices for Enterprise-Class Fraud Prevention

Posted on Thursday, February 16, 2017

Payment Service Providers (PSPs) like BlueSnap, Braintree, Chase Paymentech, GoECart, Magento, and X-Cart are offering portfolio-level fraud prevention as a baseline service to their merchants. This type of value-added offering is helping these issuers, acquirers, payment processors, payment gateways, eCommerce platforms, etc.:

  • Win new accounts and reduce churn
  • Minimize the financial and regulatory risks of onboarding and underwriting merchants

If you are a PSP exploring platform-wide fraud prevention as a strategy for overcoming the Top 7 Challenges Payment Service Providers Are Facing, it’s critical that you understand the best practices for enterprise-class fraud prevention in order to achieve maximum ROI:

  1. Sophisticated Screening and Analytics
  2. Real-Time Fraud and Risk Data
  3. Advanced AI and Machine Learning
  4. Expert Human Intelligence
  5. Portfolio Underwriting
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Topics: fraud prevention, payment service providers

Top 7 Challenges Payment Service Providers Are Facing

Posted on Tuesday, February 14, 2017

Payment Service Providers (PSPs) are facing unprecedented competitive
challenges. With thousands of PSPs already in the marketplace and hundreds of new entrants adding to the competitive pressure each year – it’s becoming more and more difficult to: 

  • Win new merchant business and retain existing accounts
  • Protect against the financial and regulatory risks of onboarding and underwriting merchants
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Topics: payment service providers, regulatory risks

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