Make Your Merchants Love You

Merchants today have the opportunity to reach their customers through different channels, creating new experiences that were never before imagined. In the early 2000s, customers were excited by the opportunity to shop online. Today, customers can order online and pick up in store, they can order through chatbots, or they use personal digital assistants like Alexa. Retail is leveraging technology to push the limits of innovation, creating newer points of interaction and increased opportunities for customer engagement.

The new experience has spawned new types risks due to omnichannel and omnidata complexities and merchants need to protect themselves against the new attack vectors.

For merchant acquirers and processors, this provides a unique opportunity to be a valuable partner to merchants and not just help them provide them with traditional treasury and processing services, but also extend their offerings to value-added services like fraud prevention.

A New Competitive Landscape

Because of the growth of ecommerce, the value chain for acquirers has become more complex. Newer players, such as Square and Stripe, are leveraging technology more streamlined experience to merchants – whether it is at onboarding, processing or mitigating risk. CLSA’s Tom McCrohan stated that Square is “poised to successfully go upmarket and gain share from traditional payment processors through a growing bundle of services extending beyond payment processing.”

Existing processors are now forced to figure out ways to deliver value-added services because more and more merchants are looking for providers that can provide more complete offerings. One effective and easy solution for processors is to partner with fintech firms to offer risk management as a value-added service. Now, merchants not only benefit from packaged solutions but also the network effort that the processor brings in the form of federated knowledge and common learnings.

Delivering Operational Efficiencies with a Multi-Tenant Solution

Feedzai’s multi-tenant fraud prevention platform, acquirers can provide merchants with a complete solution for risk management and payment processing, setting them apart from the competition. Part of these scalable management services includes centralized risk management. Acquirers can create and administer global rules, models, and lists, and provide case management services for each tenant.

With a user-friendly portal to add users and permissions, it is now easier and faster than ever to onboard merchants.  Acquirers can reduce merchant operational costs by managing rules, models and reviewing transactions when necessary, on behalf of the merchants. What about reports and dashboards? With Feedzai, acquirers can help merchants improve fraud KPIs and customer retention.

By being uniquely positioned to have a global view of merchants in their portfolio, acquirers are able to offer federated machine learning model that can leverage learnings from every single merchant to moderate risk across the ecosystem. This helps merchants keep their data safe while benefitting from being part of the network.

To learn more about Feedzai’s multi-tenant platform, check out our solution for acquirers.

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