Radial Launches New E-Commerce Payments and Fraud Products at CNP Expo
May 24, 2016
Radial, the company formed this spring when eBay Enterprise and Innotrac merged, announced three new products at the CNP Expo in Orlando, Fla. it says e-commerce merchants can leverage to increase conversion and decrease fraud. Radial Payments, Fraud and Tax is a turnkey solution e-commerce merchants can use to begin accepting payments online quickly. Radial Fraud Zero and Radial Fraud Insight are fraud prevention systems merchants can use with existing payments providers. Fraud Zero is a standalone version of the company’s full fraud prevention suite and Fraud Insight renders a High, Medium or Low risk score for each transaction in real time merchants can use in conjunction with an existing antifraud provider.
“E-commerce sales are expected to jump to $480 billion by 2019 and mobile purchases are expected to grow to $142 billion this year,” said Stefan Weitz, chief product and strategy officer at Radial. “But it’s not just e-commerce that is growing. With the introduction of EMV chip technology in October 2015, online fraud is forecast to explode from an estimated $3.1 billion in 2015, to $6.4 billion in 2018—a increase of more than 100 percent. Retailers face a daunting task managing the complexity of payment processing, taxes, duties and fraud, while delivering a frictionless customer experience.”