Transforming PSP challenges into business strengths
Maximize Conversion, Merchant Retention and Fraud Control
In today’s saturated PSP Landscape, PSP’s face many challenges.
The success of merchants and payment service providers are interdependent.
Today’s online shoppers expect a seamless payment and checkout experience, despite a growing variety of international and local payment methods (LPM). Merchants choose PSPs that offer them attractive rates and the ability to receive payments in alternative and local payment methods.
PSPs face mounting pressure to provide their merchants with fraud protection, guaranteed chargeback recovery and compliance with ever-changing rules and regulations as defined by legislators and card schemes. Merchant attrition is rampant in a PSP landscape that has become extremely competitive.
Transforming PSP challenges into business strengths
Maximize Conversion, Merchant Retention and Fraud Control
In today’s saturated PSP Landscape, PSP’s face many challenges.
The success of merchants and payment service providers are interdependent.
Today’s online shoppers expect a seamless payment and checkout experience,despite a growing variety of international and local payment methods (LPM). Merchants choose PSPs that offer them attractive rates and the ability to receive payments in alternative and local payment methods.
PSPs face mounting pressure to provide their merchants with fraud protection, guaranteed chargeback recovery and compliance with ever-changing rules and regulations as defined by legislators and card schemes. Merchant attrition is rampant in a PSP landscape that has become extremely competitive.
Key findings from the report
The business interests of merchants and PSPs go hand in hand. Unhappy shoppers cost merchants revenue and when merchants are in trouble, so are the PSPs that process their payments. Financial criminals saw great opportunities in the rise of relatively anonymous card-not-present payments (CNP). CNP is much more vulnerable to fraud risk and causes merchants and PSPs to suffer increased fraud loss each year, in addition to the fact that merchants carry the financial liability for CNP – unlike in-store credit card fraud which is covered by the bank.
Get the report to get key insights to:
- How PSP’s can stay ahead in a highly competitive landscape subject to complex legislations
- How the change in shopping behaviour presents payment service providers (PSP) with business opportunities.
- Understanding where fraud hides in the shadows of ecommerce
- Fraud Scenario Series: Account takeover fraud
- Social Engineering Fraud, Return Fraud, Bot Fraud, Chargeback Fraud
Transforming PSP challenges into business opportunity
Fearless Payments offers a suite of innovative solutions that empower PSP’s to better serve their merchants by significantly increasing authorization rates, while lowering operating costs and providing a full financial guarantee.
Underpinning the solution is Signifyd’s Payments Optimization Platform that helps payment service providers retain existing merchants and win new business by offering value added services beyond their existing offerings. Built to fearlessly authorize more payments and deliver decisions that are backed by a financial guarantee, the platform is underpinned by the largest enterprise network on the market to identify the shopper behind 98% of online purchases.
Signifyd Fearless Payments helps PSPs (Payment Service Providers) increase their client retention rate and back book revenue while providing optimal processing experiences to their merchants.
CHALLENGES PAYMENT SERVICE PROVIDERS FACE
- Highly Competitive Margins
- Merchant Attrition
- Higher Demand for Value-added-Services (VAS)
- Regional Differences in Legislation (i.e.PSD2/SCA in the EU)
- Fraud Management
- Growing Variety of Payment Methods
- Competitors that offer B2C, B2B and B2G
- Payment Services
- Payment Orchestration Platforms
We ensure every transaction matters so you can fearlessly authorize more payments
“As the global ecommerce market continues to grow and payments and checkout needs become more complex, merchants require more sophisticated solutions to optimize transaction acceptance while protecting commerce. We are continually impressed with Signifyd’s innovative approach to this market need and our partnership with them has helped us unlock better experiences for both our merchants and their shoppers.”
— Jim Johnson Head of Merchant Solutions
We ensure every transaction matters so you can fearlessly authorize more payments
Transforming PSP challenges
into business strengths
Maximize conversion, merchant retention and fraud control
Related content
Read more on the blog
Read the news release