FIS Increases Approval Rates and Decreases eCommerce Fraud Liability for Merchants with Guaranteed Payments
- FIS becomes the first payments processor to offer a fully integrated solution designed to guarantee merchants increased eCommerce transaction approval rates and eliminate the financial liability of chargebacks due to fraudulent purchases.
- The company’s new FIS Guaranteed Payments offering helps maximize revenue through higher approval rates and creates a faster, more seamless embedded integration experience for merchants.
- Guaranteed Payments combats record highs in eCommerce fraud, creating the need for better alignment between revenue assurance and fraud prevention.
According to a recent survey, 9 out of 10 merchants lost revenue through payment fraud in the last year.1 Fraud accounts for about 1 percent of online transactions, yet merchants routinely reject as much as 9 percent of orders to avoid fraud2 totaling
This new offering comes during a time when the global eCommerce market continues to rise to record highs, creating the need for increased alignment between revenue assurance and fraud prevention. According to the Worldpay from FIS Global Payments Report, the eCommerce market is predicted to grow 50 percent by 2024.4
Currently available across the Signifyd Commerce Network, Guaranteed Payments focuses on maximizing revenue by delivering increased merchant approval rates, providing guaranteed chargeback protection and creating a faster, more seamless integration experience for merchants. This powerful new offering is fully integrated into the Worldpay from FIS platform.
“This rapid growth in eCommerce has increased fraud activity dramatically. Guaranteed Payments brings together two powerful sources of transaction intelligence—the Worldpay data stream produced from processing 40 billion orders annually and the Signifyd Commerce Network of thousands of merchants worldwide,” said
Guaranteed Payments utilizes machine learning and transaction intelligence to analyze thousands of signals, including identity features such as email addresses and payment credentials to instantly distinguish legitimate orders from fraudulent orders, helping merchants optimize revenue through reduced false fraud declines and instant fulfillment.
For more information, visit https://www.fisglobal.com/en/products/guaranteed-payments.
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
1 Worldpay from FIS – Global Payment Risk Mitigation - https://bit.ly/39HdJtd
2 Signifyd Internal Data - https://bit.ly/3y8z4Wz
4 Worldpay from FIS – Global Payments Report - https://bit.ly/3sEevhd
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