Author: Catherine Batch, Research Director, Payments Consulting Network, Brisbane
Airlines to accountants the world over are all looking to boost sales and have turned to IntegraPay to help them process more transactions more securely.
Merchant Pricing Hub spoke to IntegraPay’s CTO Tony Braden about the ways merchants can protect themselves while maximising online sales.
IntegraPay an e-commerce and subscription payment processor has developed onto a system which allows processing transaction decisions ‘on the fly’. Utilising artificial intelligence it is discovering ways to process online payments, while significantly reducing the merchant risk.
“Our fraud monitoring allows clients to take only calculated risk. Our goal is to ensure legitimate purchasers have a good checkout experience.”
“We are able to work with our clients to build rules which draw from our powerful database that is designed to enable sales when it is safe,” he said.
IntegraPay uses Kount’s proprietary technology which reviews billions of data points globally and provides maximum protection for merchants like Bestjet.com.
3D Secure is employed for the riskier transactions as it provides extra protection for merchants and customers for online payments as it authenticates the cardholder during payment processing, similar to entering a PIN for an ATM or EFTPOS transaction. If a merchant follows the 3D Secure process successfully then it is at no risk to them, with the banks holding the liability.
“We are able to narrow down the transactions that need to be reviewed via 3DSecure for additional cardholder verification. If a cardholder can provide the necessary detail, then it will process.”
“With the nature of instant purchases like travel, we had to ensure Bestjet.com was protected from fraudulent purchases while making sure the booking experience was fast and efficient.”
“Our fraud mitigation control system now allows transactions to be graded as part of the payment process, and only higher risk transactions are submitted for 3DSecure. As we are able to build rules around both the payment transaction and the service or product being purchased for each merchant, we can provide very targeted control and can manipulate the risk versus return balance each merchant requires,” Braden concluded.
IntegraPay’s innovative approach when it comes to preventing fraud has made it easier to identify risky transactions without the inconvenience of excessive false positives or abandonment.