Fraud prevention is always a challenging task. Merchants, and therefore their PSP/ISO must have a solid understanding of typical fraud profiles in their industry and what risk checks will help them to prevent fraudulent transactions. One effective tool within the manifold offering of fraud prevention tools is device fingerprinting.
How does device fingerprinting work?
How does device fingerprint affect conversion and merchant business?
With device fingerprinting features, merchants can minimize their chargeback rates and at the same time increase their conversion rate by in average up to 15%. Problems like accounts with fake identities or multiple orders in a short space of time can be detected effectively before the shipping process starts. And combining device fingerprinting with geo location checks even allows the detection of unusual device usage in surprising locations for the same account. Typical fraud prevention instruments remain ineffective in those scenarios as they only evaluate risk for real existing persons and not devices.
In brief, with device fingerprinting merchants can grow conversion and leverage merchant business successfully.
PAY.ON offers the most extensive range of fraud management tools in the market. This includes 120 PAY.ON specific risk checks as well as various third-party risk and fraud management checks that are fully integrated into the payment platform. The sophisticated risk checks, offered by PAY.ON, provide payment providers and merchants with a powerful tool for fraud reduction on a global scale.