Banks Losing $160,000 a Year as Legacy Fraud Detection Systems Block Legitimate Card Payments
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Banks Losing $160,000 a Year as Legacy Fraud Detection Systems Block Legitimate Card Payments
Card issuers could be losing an average of $160,000 a year in interchange revenue because legitimate customer transactions are being wrongly declined by outdated fraud detection systems, according to new analysis from payment technology provider BPC. The modelling highlights what BPC describes as a significant but often overlooked source of revenue leakage. While banks closely
NEW YORK and OAKLAND, Calif.--(BUSINESS WIRE)--Riskified (NYSE: RSKD), a global leader in e-commerce risk and fraud intelligence, today announced a partnership with Marqeta (NASDAQ: MQ), the modern global card issuing platform, to give card issuers on the Marqeta platform access to Riskified's pre-authorization risk intelligence. The integration helps issuers make more accurate authorization decisions, approve more legitimate transactions, and r…
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