FIS announces launch of its Guaranteed Payments solution
Financial technology leader FIS (NYSE:FIS) announced today the launch of its Guaranteed Payments solution, becoming the only payments processor to offer a fully integrated solution designed to guarantee merchants increased eCommerce transaction approval rates and eliminate the financial liability of chargebacks due to fraudulent purchases.
This new offering comes during a time when the global eCommerce market continues to rise to record highs, creating the need for increased alignment between revenue assurance and fraud prevention. According to the Worldpay from FIS Global Payments Report, the eCommerce market is predicted to grow 50 percent by 2024.
Currently available across the Signifyd Commerce Network, Guaranteed Payments focuses on maximizing revenue by delivering increased merchant approval rates, providing guaranteed chargeback protection and creating a faster, more seamless integration experience for merchants. This powerful new offering is fully integrated into the Worldpay from FIS platform.
“This rapid growth in eCommerce has increased fraud activity dramatically. Guaranteed Payments brings together two powerful sources of transaction intelligence—the Worldpay data stream produced from processing 40 billion orders annually and the Signifyd Commerce Network of thousands of merchants worldwide,” said Vicky Bindra, Chief Product Officer at FIS. “Together, we have a powerful solution currently found nowhere else in the market that has the unique ability to combine fraud protection with increased approvals to enhance payment optimization and the overall user experience.”
Guaranteed Payments utilizes machine learning and transaction intelligence to analyze thousands of signals, including identity features such as email addresses and payment credentials to instantly distinguish legitimate orders from fraudulent orders, helping merchants optimize revenue through reduced false fraud declines and instant fulfilment.