The exponential growth of e-commerce and digital payments has revolutionized financial markets, creating positive impacts on user experience and onboarding flows. However, it has also opened new opportunities for fraud.

The history of online transactions, from their beginnings to today, reveals an intrinsic connection between convenience and risk. As companies adopt digital business models, it is essential to understand how these evolutions have contributed to the current risk landscape.

‍

Risks in Online Credit or Debit Card Payments

Online payment fraud takes many forms, from credit card fraud to phishing attacks and identity theft. Understanding these methods is crucial for businesses to properly prepare and establish effective defenses against these threats.

The risks associated with online payment fraud go beyond financial losses. They also include reputational damage and potential disruptions to business operations.

Effectively mitigating fraud risk involves implementing strong security measures. From advanced authentication technologies to financial education for employees and customers, these strategies are essential for strengthening defenses against fraud.

‍

Our Fraud & Identity Score

Today, the need to create identity verification solutions is more relevant than ever, as companies worldwide face increasing identity fraud threats. That’s why it’s necessary to provide seamless and secure digital experiences.

This year, we partnered with Mastercard to launch a solution in the Latin American market that identifies and validates a person’s identity within seconds, preventing fraud by verifying their online behavior.

We provide our clients with a Fraud & Identity Score to strengthen their risk engines and improve decision-making.

To do this, we use data science and machine learning to combine a dataset that detects consumer risk, enabling businesses to make accurate risk decisions before, during, and after the authorization of a transaction.

With this score, you can increase your revenue; improve approval rates; stop fraud in time; and optimize manual processes.

Our product is tailored to each industry:

• E-commerce: Validate user identity in online purchase forms before checkout.
• Payments: Generate alerts in digital payment transactions, in a frictionless experience.
• Financial services: Obtain identification variables and transactional traceability to integrate into your risk engine.

Currently, more than 2,000 companies worldwide use this Fraud & Identity Score.

‍