The Paypers

Barclays Transact is a suite of tools designed to help merchants make their online transactions both simpler and safer. Its new fraud module is powered by Kount, and it uses complex data linking within the Identity Trust Global Network and AI algorithms to detect fraudulent transactions in real-time, at the point of checkout, helping protect the business from false positives and chargebacks.

In addition, the fraud module can help businesses prepare for the introduction of the EU’s SCA regulation, which aims to tackle growing rates of fraud and cybercrime. SCA requires that all EEA transactions go through a two-factor authentication process, unless they qualify for an exemption. Transact’s solution can help businesses overcome the friction by taking advantage of SCA-approved Transaction Risk Assessment (TRA) exemptions – which is where transactions are judged to be sufficiently genuine, and therefore allowed to skip the two-factor authentication process up to pre-agreed thresholds.

With Kount’s state-of-the-art fraud analysis, all transactions are analysed in real time and scored on a spectrum of low to high risk. This means that the merchant’s gateway uses this score to identify the transactions which qualify for TRA exemptions. This results in a more frictionless payment journey, a faster checkout experience for customers, lower levels of basket abandonment, and increased sales. However, higher-risk transactions requiring further inspection will still go through two-factor authentication, or be immediately declined, in accordance with the regulation and customer risk appetite.

Barclaycard Payments, Kount partner for fraud prevention and SCA solutions