Worldpay has partnered with Capital One to enhance payment fraud decisioning through a data-sharing agreement, benefiting merchants using FraudSight™ when accepting Capital One card payments. This collaboration aims to improve payment security and reduce false positive declines by integrating Worldpay's system directly with Capital One’s fraud risk decisioning engine. This integration could potentially lower false positive declines by up to 40%, based on Capital One’s results from its Direct Data Share program. Enhanced data sharing is also expected to boost detection of actual fraudulent activities, thereby reducing merchant losses by improving fraud detection precision and authorization rates.
Jon Borman, Head of Fraud Strategy at Capital One, emphasized that this collaboration sets a new standard for secure transactions, while Worldpay’s Chief Product Officer, Cindy Turner, noted the importance of reducing fraud-related losses, which reached $48 billion globally last year. The enhanced fraud prevention benefits are available to U.S.-based merchants using Worldpay's payment services and FraudSight solution when processing Capital One card transactions.
Source: Finextra
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