PALAU ONLINE PAYMENT FRAUD DETECTION METHODS ON THE RISE
As Palau’s e-commerce industry continues to grow, so does the risk of online payment fraud. In 2020, mid-to-large size retailers in the country saw a nearly 50% increase in successful fraud attacks, while small businesses experienced a quarter more successful fraud attempts.
The Costs of Online Payment Fraud
The costs of online payment fraud are real, with estimated financial losses exceeding $206 billion between now and 2025. These losses not only impact merchants but also lead to reputational damage and time spent dealing with fraud when it occurs.
Why Reliable Anti-Fraud Solutions Matter in Palau
In Palau, having a reliable anti-fraud solution is crucial for providing customers with a safe and high-quality online shopping experience. PayU’s anti-fraud solutions help merchants keep themselves and their customers secure, delivering seamless and worry-free online payment processing while maintaining excellent user experience and high payment approval rates.
PayU’s Anti-Fraud Solution
PayU’s anti-fraud module leverages machine learning to detect suspicious activity in real-time, improving as it collects more payment data. The solution is powered by AI, which enables faster and more effective fraud detection, reducing false declines and minimizing chargebacks.
How PayU’s Anti-Fraud Engine Works
The anti-fraud engine uses a rule engine and scoring system to evaluate each payment’s risk score based on parameters such as:
- Payment amount
- Email address
- IP address
- Country
- And more
When suspicious activity is detected, the system blocks the transaction and verifies its legitimacy before allowing it to proceed.
Benefits of PayU’s Anti-Fraud Solution
PayU’s anti-fraud solution offers several benefits to merchants in Palau, including:
Key Benefits
- Worry-free online payment processing with embedded fraud detection and payment optimization features
- Improving with your payment data, using AI-powered fraud monitoring and detection capabilities
- Protection against chargebacks, with PayU assuming the chargeback when a dispute process has been started by a customer (regional and other limitations apply)
- 3DS flexibility, accommodating multiple 3DS configurations (internal, external, or via PayU’s MPI) and smart 3DS routing to minimize fraud and maximize approval rates
Get Started with PayU
Access comprehensive anti-fraud support and other payment security features through PayU’s global payment orchestration platform. With PayU, merchants can rely on advanced fraud detection and close cooperation with law authorities in case of breaches. Our solution is designed with the needs of merchants and customers in mind, leveraging data to detect suspicious activity without compromising approval rates and successful transactions.