Case Study: Euroline
Business Challenge
Euroline,
the acquiring arm of SEB Kort AB, is the market leading Merchant Acquirer
for Sweden, Nordic markets, Germany and the Baltics. It administrates
2.7 million chargecards and credit cards in the Nordic countries,
working with nearly 200,000 merchants and processing over 300 million
card transactions every year. SEB Kort provides processing and fraud
monitoring for its merchant acquiring arm Euroline. With only a short
window in which to authorise transactions, Euroline needed to ensure
it had adequate protection to prevent funds being lost through fraud
and defaulting merchants. SEB Kort were already working with Experian
using Secana Card Protector, which tackles the challenges of issuer
fraud. SEB Kort recognised that a similar architecture and functionality
could bring significant benefits to detecting and reducing merchant
fraud.
The Solution
SEB Kort chose the Secana Merchant Monitor solution from Experian. This comprehensive package provides an online solution for Euroline to monitor, investigate and take action against fraudulent merchants and those who are exposed to fraud, as well as managing compliance and merchant risk in the card payment operation.
The Benefits
- Detect 80 to 90% of merchant fraud
- Avoided significant fraud losses , including single cases worth more than €50,000
- Immediate return on investment by reducing fraud and risk losses
- Reduce the scale of fraud losses by rapidly taking proactive action
- Avoid regulatory penalties by ensuring full compliance with card organisations
- Educate merchants to detect and prevent fraud
"Merchant monitoring is a key part of our business. With Experian,
we have found a partner who knows what they are talking about, knows
our business and how to solve our problems. And, with Secana Merchant
Monitor, we have found a solution that protects our business. We just
have to look at the results; we believe we are detecting 80 to 90 percent
of merchant fraud."