Kount reveals complete solution for criminal and friendly fraud

The company’s Friendly Fraud Prevention Solution features Visa Merchant Purchase Inquiry (VMPI),  which aims to help businesses save the sale, prevent chargebacks, and reduce dispute timeframes. The solution identifies both criminal and friendly fraud, helping companies achieve positive results such as improved revenue, customer experience, operational efficiencies, and customer retention rates.

This AI-driven digital fraud prevention protects against criminal fraud in a scalable manner by combining unsupervised and supervised machine learning with a universal data network. Moreover, Kount’s Friendly Fraud Prevention Solution offers a tool set, which includes VMPI, advanced analytics, and representment and alerts through partnerships. Via the VMPI, issuing banks are enabled to request information directly from businesses in a bit to help cardholders recognise transactions before proceeding with a dispute. 

Also, Datamart is a component of the Friendly Fraud Prevention Solution, and delivers advanced data analytics, as well as it allows businesses to look at qualifiers including email address, product, and data types. Thus, businesses gain clarity into legitimate customer disputes, which are often due to product quality deficiencies, merchant error, or service gaps.