"This new tool not only protects against fraud but also affects a company’s bottom line by increasing revenue numbers," said Roelant Prins, CCO of Adyen.
Boston, Massachusetts (PRWEB) February 21, 2012
Adyen, the fastest-growing provider of next generation Internet and mobile payment solutions, today announced the launch of their new Risk Analytics tool which allows retailers the ability to more accurately pinpoint fraudulent transactions within their online payment infrastructure. This new system will not only stop fraud but will help increase conversion rates for merchants worldwide.
Many retailers find it difficult to optimize anti-fraud settings offered by other payment providers due to the extensive backend requirements. If settings are too rigid, many willing customers will be denied at the gates resulting in a loss of revenue. If settings are too broad, the damage caused by fraudulent shoppers can grow enormously.
Adyen's Risk Analytics tool provides much greater insight into where fraud is originating, demonstrating those countries with the highest and lowest fraud figures. The new fraud analysis tool constantly analyzes the impact of the current fraud settings and suggests alternatives that can generate additional revenue.
Additionally, the ‘what-if’ analysis provides retailers with real-time insight into possible consequences they may face when making these changes. Previously, this process was based on trial and error, where new settings first needed to be tested for a longer period of time before being deployed. Adyen’s approach achieves a balance between rigorous checks with online payments and the unintentional rejection of serious customers (“false positives.”)
“Our new Risk Analytics tool provides our customers with greater detailed insight into actual fraud patterns and then recommends changes to increase conversion rates,” says Roelant Prins, CCO of Adyen. “This new tool not only protects against fraud but also affects a company’s bottom line by increasing revenue numbers.”
Aad Verveld, CFO of Emesa, parent company of Aladoo.de, is very pleased with the intricate way Adyen can adjust the fraud settings. The company had been facing an increasing number of credit card transactions which later proved to be fraudulent. Once Adyen’s platform was implemented, the fraud decreased significantly, without a negative impact on the number of “false positives” as well as conversion rates. “Now we have a much better insight in the “authenticity” of transactions, and thanks to the Adyen platform we can intervene more quickly when incidents occur.”
Adyen is the leading provider of global Internet payment and e-commerce solutions for mid, large and enterprise e-commerce merchants. Adyen’s revolutionary Internet Payment Solution enables merchant to significantly increase online conversion by optimizing the online payment process. This “one-stop” solution can be implemented within days and connects companies to global customers through a growing offering of payment methods.