BlueSnap has enhanced its suite of fraud prevention services by partnering with Kount, a provider of fraud detection and sales boosting technology.
BlueSnap will use Kount’s award-winning technology to help online sellers protect their revenue, defend their reputation and increase payment conversions when transacting in any of the 180 countries, 29 languages, 60 currencies and 110 payment types supported by BlueSnap.
According to the 2014 LexisNexis® True Cost of FraudSM Study, international merchants lose an average 1.21% of revenue to fraud, and they pay $3.08 for each dollar of fraud losses. As the chosen payment gateway for international merchants, BlueSnap recognizes this problem and has aimed to make cross-border sales as safe as possible.
To reduce fraud to a minimum – regardless of which payment options customers use – BlueSnap selected Kount to provide enhanced fraud prevention services.
Renowned for its proprietary technology and trusted by the world’s most well-known brands, Kount can analyze hundreds of data points per transaction and deliver a highly predictive fraud assessment within an average of 350 milliseconds. Thanks to this remarkable speed, Kount can identify and prevent payment fraud, account fraud and account takeovers without slowing the transaction process. This means that merchants can defend against fraudsters without any negative effect on the checkout experience.
BlueSnap has combined Kount’s fraud prevention techniques with BlueSnap’s own repertoire of fraud prevention and security solutions, which includes tokenization, client-side encryption and card fingerprinting. Merchants can use Kount’s services regardless of whether they integrate with BlueSnap via an API and elect to use BlueSnap’s BuyNow Hosted Checkout pages. Both options protect customer payment information in transit and reduces the scope of PCI compliance.
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