Checkout.com Rolls out New Online Fraud Prevention Instrument

Cloud-based payments service provider Checkout.com has announced the launch of its Fraud Detection Pro tool, a flexible solution used to solve online payments fraud and optimise revenues.

As fraud continues to become more sophisticated, business globally face losses of over USD 20 billion in revenue. Altogether, by 2025, businesses are expected to lose USD 206 billion to payments fraud, with fraudsters effectively breaching existing defenses and finding new ways to go around merchants' online security protocols.

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The latest tool from Checkout.com equips businesses with the necessary features to efficiently balance fighting fraud, maximising acceptance rates, and reducing friction for legitimate customers. The tool deploys a combination of machine learning and advanced rules, leveraging billions of completed transactions and allowing merchants to identify security alerts in real-time and, therefore, tailor their fraud response.

The announcement follows the company's recent update to its Authentication solution which helps merchants fight fraud and optimise revenues, as well as the launch of Integrated Platforms, a solution that supports both marketplaces and sellers in an evolving digital economy. 

(Source: The Paypers)