UK-based financial technology company FIS has announced the launch of its Guaranteed Payment Solution becoming the only payments processor to provide a fully integrated solution to guarantee increased ecommerce transaction approval rates.
Through the new programme, FIS is also looking to eliminate the financial liability of chargebacks due to fraudulent purchases. Its system helps maximise revenue through higher approval rates and creates a faster, seamless embedded integration experience for merchants.
Guaranteed Payments fights record highs in ecommerce fraud, boosting the need to align revenue assurance with fraud prevention for enhanced payment acceptance rates.
According to recent surveys, 90% of merchants lost revenue because of payment fraud in 2021, resulting in USD 443 billion in lost revenues, combined. FIS’s latest offering is currently available across the Signifyd Commerce Network and delivers increased merchant approval rates, providing guaranteed protection against chargebacks.
Guranteed Payments uses machine learning and transaction intelligence to analyse thousands of signals, including identity data such as payment credentials and email addresses to instantly distinguish between potential fraudsters and legitimate orders.
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