Kount publishes the 'State of payment processing & fraud: 2018'18-April-2018
Kount has announced the release of the “State of Payment Processing & Fraud: 2018” inaugural report.
Developed in partnership with The Fraud Practice, the report surveyed approximately 15% of the worldwide payment processor community to gain a clear understanding of their strategic priorities over the next year, as well as the value processors place on using qualitative and quantitative analysis within their organizations.
While surveying more than 150 payment processors, including staff from acquiring banks, issuing banks, payment processors, payment facilitators (PayFacs), and payment gateways, the report uncovered significant findings, including:
- 78% of payment organizations that support cross-border payments enable merchants from other regions to do business in North America
- 41% support international payment transactions across Western Europe.
- More than one-third of participants facilitate payments from consumers in South (39%) and Central America (33%), Asia (37%), and Eastern Europe (37%).
Payment Processors continue to increase support and add new offerings:
- 9 in 10 organizations that support mobile and alternative payment types are increasing support for these this year.
- More than 8 in 10 payment processors surveyed will increase support for business reporting and analytics.
- 75% will increase support for integrated rules or fraud scoring, and nearly 70% will increase support for fraud technology tools.
- Nearly 60% of payment processors offer or support velocity checks while 45% offer or support rules engines, fraud scoring and IP geolocation.
Kount delivers a SaaS model fraud and risk management platform for companies operating in customer-not-present (CNP) environments. For more information about this company, please check out a detailed profile in our web fraud & e-identity company database.