Fraudulent Transactions Detection on the Rise in American Samoa: PayU Offers Solution
As e-commerce continues to grow in popularity around the world, including in American Samoa, fraudulent transactions have become a major concern for businesses.
The Growing Concern of Online Payment Fraud
According to recent statistics, the average number of successful fraud attacks increased by nearly 50% among mid-to-large size retailers in the United States last year. Small businesses are also feeling the impact, with successful fraud attempts on smaller companies increasing by more than a quarter.
Financial Losses and Reputation Damage
The financial losses due to online payment fraud are staggering, estimated to exceed $206 billion between now and 2025. In addition to financial losses, fraudulent transactions can damage a company’s reputation and require significant time and resources to resolve.
PayU’s Anti-Fraud Solution
To combat this issue, PayU has introduced an integrated anti-fraud solution that utilizes machine learning to detect and prevent fraudulent transactions. The system is designed to keep merchants and customers safe while providing seamless and worry-free online payment processing.
How it Works
PayU’s anti-fraud module leverages a rule engine and scoring system driven by machine learning to identify suspicious activity and block unwanted transactions. The system also has the capability to flag and verify transactions, allowing merchants to quickly determine whether a transaction is legitimate or fraudulent.
Optimizing Payment Routing and Advanced 3DS Capabilities
The company’s expertise in local regulations and market conditions, as well as its global capabilities, enables it to optimize payment routing to prevent fraud while giving merchants the ability to block unwanted transactions and identify suspicious activity before it becomes dangerous. The system also includes advanced 3DS capabilities that help merchants comply with Secure Customer Authentication (SCA) requirements while maintaining high approval rates.
Benefits of PayU’s Anti-Fraud Solution
By using PayU’s anti-fraud solution, merchants can:
- Rely on worry-free online payment processing
- Improve fraud detection
- Reduce false declines
- Protect against chargebacks
Additional Payment Security Features
In addition to its anti-fraud capabilities, PayU offers a range of other payment security features designed to support efficient and secure global payments.
Get in Touch with PayU Today
For more information on how PayU can help American Samoa businesses combat fraudulent transactions, contact us today.