The Retailer Summer Edition_2020

Fraud Prevention and Circuit Tokenization

How Axerve can help Axerve is the leading Payments Hub in Italy. With over 100,000 active customers, the company is the ideal partner for worldwide business development. By accepting all types of payments on its single omnnichannel platform, Axerves helps large corporations, retail chains, and small merchants identify the opportunities that innovative payment systems create in terms of strengthening relations with the final customer.

With the introduction of PSD2, the European Union has actively contributed to the reduction of online fraud, but one of the possible outcomes could be an impact on authorisation and conversion rates. Thus the challenge is being able to combine the Strong Customer Authentication (SCA) introduced by PSD2 with the highest possible conversion rates, without affecting payment security. Having a platform which is able to exploit the potential of artificial intelligence and machine learning in the identification of fraud and, in particular, in the reduction of false positives, i.e., genuine transactions mistakenly identified as malicious, with the advantages of circuit tokens, is key. Visa and Mastercard, to name two of the most well-known – which can further contribute to cart conversion rates at checkout thanks to the strategic role that this type of solution can have in the initial buyer authentication phase – becomes strategic, and can be a differentiating element in the customer journey itself.


Sources ¹Digital Economy and Society Index 2020

2Forecast for the number of online users in the eServices Fitness market in Europe from 2017 to 2024 | Statista 3Number of Apple Pay, Samsung Pay and Google Pay contactless payment users in 2018 and 2020 | Statista

the retailer | summer 2020 | 19

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