A robust and effective fraud prevention solution enables acquirers both to add value to their merchant relationships and manage risk in the merchant base.
An improved understanding of your merchants’ risk profiles means that you can apply the right fees and charges to each merchant, rewarding those who are managing risk effectively while reducing your own exposure. A fraud prevention solution will also help you to spot fraudulent merchants more quickly and to distinguish between these merchants and those who are themselves under attack from fraudsters. The ability to recognise fraud patterns quickly means that you can take steps to mitigate fraud, and you will be better able to manage your exposure to scheme fines that result when merchants fail to comply with scheme rules.
The ReD PRISM® solution delivers industry leading fraud management capabilities for acquirers, issuers, processors and switch networks. ReD PRISM® utilizes rules-based technologies to provide real-time (RT) and near real-time (NRT) fraud decisioning.
ReD PRISM® can be enhanced to develop new fraud rules dynamically. The solution supports all card types, irrespective of card brand, and is available as both a licensed solution and a managed service supporting both internal and external users.
ReD PRISM® provides the ability to decline transactions in real-time, as part of the authorisation decision, with further monitoring being carried out post authorisation. This reduces the number of fraudulent transactions which occur before the fraud is identified and the cards are blocked, reducing overall fraud loss.
The ReD PRISM® suite is engineered to provide a highly scalable, long-term solution that brings efficiency gains to fraud operations. ReD PRISM® components can be implemented in a variety of combinations to build an extremely powerful fraud solution tailored to the needs of each individual customer.