False positives are a huge problem($118B problem), according to a study by Javelin, but there is a solution.
Tightening your fraud tools is not helping. In fact, that turns away too many good orders, which in turn insults more potential buyers. Regardless of whether the merchant or the issuer declined this good order, strategies to decrease false positives will help your business.These strategies will increase your sales with increased authorizations, decreased consumer insults and enhanced consumer loyalty.
The number of card-not-present (CNP) authorized transactions is significantly lower than point-of-sale (POS), by up to 16%. Cardinal Consumer Authentication (CCA) can help close this “Acceptance Gap” (see diagram below) by authenticating transactions, which have a higher likelihood of being authorized.
CCA not only closes the ‘Acceptance Gap’ with more authorized orders and fewer false positives, but protects the merchant from fraudulent chargebacks.
Narrow your acceptance gap, reduce your false positives, and increase your sales with CCA! With One Connection to Cardinal we can FutureProof™ your business.
To find out more, connect with Cardinal. With your One Connection to Cardinal we can help FutureProof™ your business.