BlueSnap, Kount to reveal solution for cross-border payments and fraud prevention

Monday 13 January 2020 12:49 CET | News

BlueSnap and Kount have announced that they will showcase their solution for excellence in cross-border ecommerce at NRF 2020 Vision: Retail's Big Show.

Both companies provide merchants with an all-in-one platform for processing international payments and minimising losses to fraud. Yahoo Finance has reported that a study commissioned by BlueSnap and Kount found that worldwide online sales grew from USD 2 trillion in 2016 to USD 3.46 trillion in 2019. Moreover, over half of online shoppers have already purchased goods from foreign websites, however, less than half of North American retailers sell internationally. As a reason, merchants consider fraud and payment processing as the two top factors that make them avoid selling internationally.

The partnership between the two aims to help merchants overcome these barriers to growth. BlueSnap processes payments in more than 100 currencies via 110 payment methods, while 85% of their merchants have international customers and 78% of them are processing payments locally. Kount's digital fraud prevention solution protects 6,500 leading global businesses with advanced artificial intelligence. Its solution is included for those customers who partner with BlueSnap, for businesses to achieve outcomes such as less fraud, fewer false positives, increased sales, and fewer manual reviews.

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Keywords: BlueSnap, Kount, cross-border payments, fraud prevention, ecommerce, sales, merchants, AI, false positives
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime