MasterCard is adding a new tool for small- and medium-sized (SME) businesses to control, prevent and monitor e-commerce transactions in real time. The solution, a complement to payments platform Simplify Commerce, helps businesses maximize online sales by letting legitimate orders through and keeping fraudulent transactions out.
With a mobile app and desktop dashboard, merchants can easily and quickly customize their fraud settings – such as transaction size, country of origin and repeat transactions. Simplify Controls then auto-declines transactions to meet their risk tolerance and provides merchants with smart alerts so they can stay on top of potentially fraudulent activity.
Fraud is a significant concern among small business owners, according to a recent multi-market online survey commissioned by MasterCard. A full 60 percent of the small- and medium-sized businesses surveyed said they do not currently use a fraud prevention tool.
Simplify Controls was developed by the same team that created Simplify Commerce, a uniquely versatile, highly secure and simple payments platform designed to meet small business owners’ needs. Like Simplify Commerce, Simplify Controls is available through plug-and-play software development kits (SDKs) and application program interfaces (APIs) that make integration quick and easy for both developers and businesses. In addition, the solution currently integrates industry-leading fraud scoring from Kount. For each transaction, Kount’s “decisioning” engine will analyze hundreds of relevant variables and activity across the globe in real-time.
Simplify Controls is available in the United States, and is slated to expand to markets around the globe in the next year.
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