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Commerce Authentication Data Becomes a Focus in 2021:

PaymentsJournal by PaymentsJournal
April 13, 2021
in Authentication, Commerce, Data, Truth In Data
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Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.

Data for today’s episode is provided by Mercator Advisory Group’s Viewpoint: e-Commerce Authorization Data: Patching the Patchwork

Commerce Authentication Data Becomes a Focus in 2021:

  • Merchants fight a constant battle to offer frictionless consumer buying, requiring a seamless authorization process, while preventing fraud.
  • Beyond the simple fraud risk, merchants incur significant penalties with the payment networks if they allow too many fraudulent charges. 
  • Often, what differentiates one authentication implementation from another is the set of transaction data being examined for authentication.
  • Consortium data may be the frontier of improving analytics as companies combine multiple merchants, acquirers, networks and card issuer data for the next level of accuracy.
  • In addition to authorization, managing disputes post-purchase is receiving increased attention in 2021. Merchants use multiple platforms to cover multiple authentication & fraud challenges.
  • Both acquirers and payment gateways have stepped up their in-house authorization solutions using AI & Machine Learning connected to rules engines.

About Report

To spin fraud detection gold from transaction data straw, you need lots of straw.

The e-commerce checkout and payment process generates masses of data with fraud detection potential for the merchant. Big data and AI-enabled analytics make instantaneous decisioning possible, but consortium-level transaction data is only partially fulfilled today. Fraud platform providers are beginning to seriously exploit the power of previously inaccessible data through customer data consortiums. 

Tags: AuthenticationCybersecurityDatafraudtransaction dataTruth In Data
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