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News

Air Europa selects Riskified PSD2 Optimization

Wednesday 27 November 2019 13:49 CET | News

Riskified, the payments and fraud prevention solution provider, has announced that Air Europa, the airline division of Globalia, has chosen Riskified PSD2 Optimization.

The solution will allow the airline to maintain a frictionless booking experience and maximize revenue under the EU’s new PSD2 regulation. Riskified data shows that European merchants could miss out on up to 15% of their revenue if they do not proactively address the regulation.  

The PSD2 directive requires many online shoppers to undergo a more rigorous authentication process, Strong Customer Authentication (SCA) when buying online to reduce fraud. SCA is expected to dramatically reduce conversion rates for merchants. However, some transactions can be exempted from SCA and, instead, undergo a friction-free verification, Transaction Risk Analysis (TRA). TRA provides consumers with a better shopping experience that prevents SCA-associated cart abandonment. As a result, merchants that maximize their use of TRA will protect their ecommerce revenues.

 

Riskified PSD2 Optimization leverages machine learning to increase the percentage of orders that undergo TRA. Moreover, PSD2 Optimization collects data from Riskified’s merchant network, providing insight into issuers and acquirers performance under the regulation.

Riskified PSD2 Optimization is the latest in a suite of AI-based solutions designed to help merchants keep legitimate customers moving along the path to purchase while avoiding customer friction, cart abandonment, and other causes of unnecessary dropoff.


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Keywords: Air Europa, Riskified PSD2 Optimization, merchants, Strong Customer Authentication, ecommerce
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce

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