PayPal announced it has launched Fraud Protection Advanced, a new set of tools to help tackle the growing problem of online payment fraud.
“This enhanced tool is built on insights from our deep industry partnerships and more than 20 years of data harnessed from our two-sided network of both merchants and consumers across 15 billion transactions annually. With our sophisticated machine learning and analytics capabilities, we are now able to take these insights and offer them to merchants to help them identify, investigate, resolve and mitigate fraud.”Rahul Pangam, Vice President Risk Strategy at PayPal
Fraud Protection Advanced builds on its existing Fraud Protection solution and is part of PayPal’s more extensive offerings for merchants on the PayPal Commerce Platform, which already helps merchants manage risk and payments.
Furthermore, Pangam said these new tools would help merchants increase revenues as they will help them better identify good from bad transactions.
“By reducing merchant’s exposure to fraud and offering the ability to differentiate between legitimate and non-legitimate transactions, we are able to help merchants increase their authorization and conversion rates.”
The company also has a webinar scheduled for May 12, 2021, The Real Impact of Online Fraud: Is Your Business Prepared, which will dive into more details on how to protect your online business from fraud. The webinar will be lead by Rahul Pangam, VP, Risk Strategy at PayPal and Karisse Hendrick, CEO at Chargelytics Consulting.
Merchants using the PayPal-owned Braintree payments processing system will have almost immediate access to the new tools available with Fraud Protection Advanced.
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