Checkout.com: Fighting Against Fraud And Chargeback

August 24, 2022

The global increase in fraud has led to many mandatory regulations by governments, and many businesses are in search for a dynamic solution that adheres to these new emerging rules.

It has been reported that 25% of businesses globally are seeing a rise in fraud and chargebacks, which not only results in financial losses for businesses, but it also affects the overall customer experience, costing merchants in more ways than one.

Enter the cloud-based payments service provider, checkout.com, a service that has updated its authentication product in order to aid merchants to optimize their revenue and combat fraud at once. All while adhering to the new rules and regulations that are constantly changing in order to protect consumers and businesses alike. 

These challenges are compounded by the evolution of European Strong Customer Authentication (SCA) regulatory requirements, maturing issuer preferences and adapting consumer behaviours.

- The Fintech Times

This solution reportedly allows merchants to take the reigns of the customer journey by deploying “either rules based or dynamic” machine learning (ML) authentication strategies. These are dynamic and they will be able to change with the ever evolving compliance requirements moving on. In addition, these solutions can be used standalone by any acquirer globally or as part of checkout.com’s wide suite of products.

A key introduction is our standalone option where merchants can centralise and manage payment authentications across all their payment providers at scale, 24/7, and across the world. Most importantly – maximise their revenues

- Rami Josef, product director, Checkout.com

According to The Fintech Times, “Businesses including Klarna are already using Checkout’s Standalone Authentication product to streamline their 3DS strategy through one provider giving them greater visibility on performance and where they can optimise their setup.”

Checkout.com recently acquired Ubble, an identity verification startup, emphasizing the commitment checkout.com has to drive greater business performance and provide a better , frictionless customer experience.

According to Merton Colbeci, chief product officer at checkout.com, the merge with Ubble comes from the need to integrate identity verification services to their toolkit.

As the payment landscape changes, it is important for business to employ all the tools they can in order to provide a secure, seamless, frictionless customer experience, as well as prevent chargebacks. 

Want to learn more? Check out The Fintech Time’s full write-up here.

Share your thoughts on our LinkedIn page.

Study: Digital Wallets Are The Most Popular Among New Payment Methods

Study: Digital Wallets Are The Most Popular Among New Payment Methods November 30, 2022 A recent study by PYMNTS in collaboration with Nuvei titled ‘New …

Read More →

The Future of Embedded Payments

The Future of Embedded Payments November 23 2022 One of the most popular words in payments nowadays is ‘embedded payments’. But what are they, really? …

Read More →

Europe: e-commerce is in decline while fraud continues to rise

Europe: e-commerce is in decline while fraud continues to rise November 16, 2022 A recent analysis published by San Jose-based software company, Signifyd, revealed consumers …

Read More →
Scroll to Top