PayPoint Enhances Fraud Screening with Sphonic Partnership
March 30, 2015
Two U.K.-based companies this week announced they have partnered enabling merchants to more accurately assess e-commerce transactions for fraud. Payment technologies provider PayPoint said it will integrate technology from Sphonic into its FraudGuard 5.0 product. Sphonic has established a network of third-party vendors, which gives the company a large and growing set of data on which to base fraud decisioning. PayPoint said the additional data will result in more accurate decisions about whether transactions are legitimate or not.
When it comes to card transactions, businesses need to find a balance between making sure they are spotting fraudulent activity and not alienating customers by declining legitimate card payments—which is often a fine line,” said Dan Salmons, managing director of PayPoint Mobile and Online. “With FraudGuard 5.0, merchants can decide whether to accept or decline a payment with far greater precision, drawing on real-time data. Our innovations mean the chance of a consumer’s legitimate transaction being declined is significantly reduced, while merchants can have greater confidence that the transactions they accept won’t subsequently be challenged.”