Businesses constantly struggle to choose between conversion, eliminating fraud, and keeping minimum costs. Adyen’s Uplift is designed to optimise the full payments funnel with the use of AI, trained on the company’s global transaction dataset. Using risk-based intelligence and automated conversion optimisation, the tool aims to help businesses get the most out of payments. Moreover, Adyen claims that the new Uplift will focus on the power of AI to solve real-time payment optimisation which, in turn, will boost businesses’ efficiency and performance.
Fraud is extremely complex and can happen at any point during the checkout process, account verification, and even after a payment is reconciled. This forces businesses to implement extensive manual rules to fight against villains and ever-evolving fraud techniques. And even though machine learning and automated reviews have been successfully implemented by many businesses, we still cannot talk about zero fraud.
Uplift is designed to automate fraud control and remove the operational burden from management teams, flagging only a series of problematic payments that require further, manual verification. Adyen’s solution also automates and refines risk management, helping businesses lower fraud levels and reduce false positives with the use of tailored and trained AI models.
According to the company, the clients that piloted the new risk product have already reduced their manual risk rules by 86%, on average, while 35% of customers eliminated manual ruling completely. At the same time, it is said that Adyen Uplift can reduce payment cost by up to 5% as it selects the best routes and best rates for transactions to minimise the total cost of payments.
Launched almost two decades ago, in 2006, in The Netherlands, Adyen is a platform that accepts payments, protects revenue, and control finances. It provides end-to-end payment capabilities and a suite of financial products that fits enterprise customers of all sizes. With offices around the world, some of the company’s most reputed customers include Meta, Uber, eBay, Microsoft, and H&M.
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