The business challenge
With 45 billion transactions made every year, fraud and the misuse of financial systems not only threaten the profitability of institutions, it also undermines confidence in the security of global payment services.
Transaction fraud, whether committed by fraudsters attacking systems or collusive and fraudulent merchants and employees, can have a significant impact on profitability.
Card issuers need to protect themselves against this significant source of financial loss, with the rapidly changing environment putting an increasing strain on analysts and systems.
Merchant acquirers are under increasing pressure from all sides, to comply with rules and regulations from the card organisations, to protect themselves from fraud and to avoid losses and reputational damage from risky merchants.
The answer
Experian’s proposition for transaction fraud prevention focuses on protecting two key organisation types, merchant acquirers and card issuers, enabling these organisations to protect their portfolios.
Experian’s merchant monitoring meets the challenges of merchant risk, fraud and compliance. It provides a real-time mechanism to monitor, investigate and take action against fraudulent merchants and those who are exposed to fraud, as well as managing compliance and merchant risk.
Experian’s answer for card issuers uses the power of transactional surveillance to screen authorisations and highlight unusual behaviour and card usage, such as the value, volume, type, frequency or location of transactions. Specifically designed for card issuers, it is offers complete protection for issuers and processor services with certification by VISA in Europe.
Testimonial
“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. We just have to look at the results; we believe we are detecting 80 to 90 percent of merchant fraud.”
SEB Kort Fraud Prevention and Security