Protecting Online Shops from Payment Fraud in Greenland

The Growing Threat of Payment Fraud in E-commerce

In Greenland, where e-commerce is rapidly growing, online shops are increasingly vulnerable to payment fraud. Recent estimates suggest that financial losses due to online payment fraud could exceed $206 billion between 2023 and 2025.

Combatting Payment Fraud with PayU’s Anti-Fraud Solution

To combat this issue, PayU has developed an anti-fraud solution that leverages machine learning to detect suspicious transactions and prevent fraudulent activity. The system uses a rule engine and scoring system to assess the risk of each transaction, flagging those that are likely to be illegitimate.

Benefits of PayU’s Anti-Fraud Solution

• Minimize false declines: Our anti-fraud solution is designed to minimize false declines and maximize approval rates.
• Protect against data breaches: We protect online shops from data breaches by using secure tokenization, encryption, and two-factor authentication.

Flexible and Adaptable Solution for Online Shops

PayU’s anti-fraud module can accommodate multiple 3DS configurations, allowing merchants to choose the best option for their business needs. Our Decision Engine supports multiple 3DS 2 versions, automatically routing transactions via the appropriate 3DS 2 flow to minimize fraud and maximize approval rates.

Comprehensive Support for Online Shops

In addition to its anti-fraud capabilities, PayU offers a range of payment security features designed to provide comprehensive support for merchants who want to ensure a secure and seamless payment experience.

Contact Our Customer Support Team

For more information on how PayU can help protect your online shop from payment fraud, please contact our customer support team.