The cost of online fraud rose by 14% from 2020 to 20211, so to help merchants build the optimal fraud management strategy, we’ve created the eBook Navigating digital commerce: PayPal’s guide to effective fraud management to provide you four strategies for protecting against evolving fraud and to unveil the tactics employed by top organizations to elevate their fraud management capabilities and help you find the right solution to fit your unique risk management needs.
As fraudsters persistently test and exploit various scenarios, traditional rule-based responses for fraud management should leverage adaptive machine learning.
Surprisingly, despite its limitations, 37% of businesses are still sticking to traditional rule-based methods for fraud detection2. Embracing adaptive machine learning could revolutionize fraud detection and empower businesses to keep ahead of fraudulent activities.
In the battle against fraud, businesses in the same industry often face similar challenges. By fostering collaboration and learning from industry leaders, firms can enhance their effectiveness in combating fraud.
With PayPal's expansive two-sided network processing over 15 billion annual transactions, you can gain valuable insights that could supercharge your fraud detection capabilities, swiftly adapting to evolving patterns.
Our advanced, machine-learning based management can be applied to large datasets, enabling organizations to intelligently empower fraud analysts to make more informed decisions.
PayPal Braintree payment processing platform helps offer the best-of-both-worlds: automated machine learning capabilities trained on a huge dataset, but delivered in a user-friendly way, so that businesses with fewer in-house resources can benefit from enterprise-grade risk management.
Machine learning plays a crucial role in combatting fraudster changing tactics for effective fraud management, owing to its ability to make swift decisions and adapt to ever-evolving trends.
With PayPal you can harness customized, out-of-the-box filters tailored to your unique business metrics. Test new filters or changes to filter testing to understand their impact and receive actionable filter recommendations to continuously optimize your fraud prevention strategy. We monitor merchant performance using data science techniques, helping to ensure your business minimizes fraudulent transactions.
Unleash the power of machine learning with PayPal to help minimize fraud and reduce chargebacks.
With over half of firms aiming to increase revenue margins in the next 2-3 years to improve risk tolerance, paying close attention to chargeback* rates becomes vital in meeting ideal profit margins2.
Each chargeback* not only results in financial loss but also the loss of the product or service sold to the customer, impacting your bottom line. High margins translate to higher risk tolerance as legitimate transactions hold greater value than potential fraud loss. In contrast, businesses with low margins have thinner profits, making them more sensitive to any loss—including those caused by fraudulent transactions.
Our payment security tools and proprietary data mix help you mitigate risks, detect fraudulent transactions, and minimize chargebacks* without causing friction at checkout or increasing the risk of false declines by utilizing the following:
Streamlined checkout experience: Embrace a conversion-driving checkout experience by securely saving your customers' payment methods for seamless purchases today and in the future.
Secure payouts: Safely send payments to over 200 markets in 135 currencies, catering to both banked and unbanked payees with the efficiency of PayPal Hyperwallet.
At PayPal, we offer businesses a worldwide network that fosters connection, growth, and expansion. Our vast data sources empower us to conduct a comprehensive analysis, enabling us to train our fraud management model effectively.
This ensures efficient detection of potential frauds and forecasting of emerging trends. Additionally, companies can take advantage of PayPal fraud solutions to test their own filters, receiving actionable recommendations that optimize their fraud prevention strategy. With PayPal's comprehensive tools and insights at your disposal, you can confidently navigate the dynamic landscape and propel your business forward.
Contact a PayPal representative to give you a customized solution for your business.
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