The vast majority of folks with a bank card have heard or learn the phrases, “Your card has been declined.” When a card issuer detects fraudulent exercise, this phrase protects cardholders from illicit fees or id theft. A wrongful rejection, nevertheless, has a cascading impact on everybody concerned within the transaction; impacting the service provider’s income and fame, straining the cardboard issuer’s fraud safety workforce, and damaging hard-won buyer belief.

That’s the reason Capital One and Microsoft have innovated on the way in which transaction information is shared between retailers and card issuers, which helps enhance acceptance charges for hundreds of thousands of legitimate transactions throughout the globe.

By enhancing the way in which transaction information is shared between Capital One and retailers that use Microsoft Dynamics 365 Fraud Protection, we are able to scale back false-positives and enhance fraud safety. That interprets to decrease fraud prices, elevated acceptance charges, and a greater buyer expertise.

Jeffrey York, Chief Monetary Officer for Microsoft Enterprise Purposes, lately video-chatted with Sarah Strauss, Head of Fraud for U.S. Card at Capital One, concerning the collaboration. I encourage you to watch the full 15-minute conversation, which provides further context to highlights that comply with.

Bridging service provider and card issuing banks to lower false-positives

“At Capital One, we are always looking for ways to better service and protect our customers,” explains Strauss. Capital One has been on a multi-year know-how transformation that has enabled the corporate to speed up the amount of improvements for its clients, and defending clients from fraud is a large piece of that.

Fraud is an especially difficult and extremely fast-moving menace, and Capital One is actively working to detect fraud and potential fraud at or earlier than the second it happens.

That is particularly vital at this time as spend continues to shift to on-line, which has excessive charges of fraud. Strauss attributes this urgency to the rise of Coronavirus-related scams to entry bank card and different private info, coupled with a lift in card-not-present e-commerce spending as folks store from dwelling. “It’s been really important for us to keep an eye on that and ensure we’re protecting our customers and delivering great experiences when they’re trying to spend.”

Strauss says Capital One developed its cloud-based authorization functionality—the Enhanced Decisioning Data API—to make sure they’re delivering nice experiences for patrons, and to assist defend clients in conditions the place their info might have been compromised. The authorization functionality helps to guard cardholders from fraud on the level of sale, guaranteeing dangerous transactions are blocked whereas approving legitimate transactions, so clients can get on with their spending and stick with it with their day.

By feeding merchant-side buyer and transaction information to the authorization functionality proper on the level of sale, it’s a “win-win scenario,” in response to Strauss. For purchasers, “you have additional capability to be protected from fraud” by avoiding false-positive declines. Retailers profit from immediately contributing information that helps guarantee low-risk transactions undergo, returning further gross sales income and stronger fraud safety. Capital One clients profit from persistently nice experiences on the level of sale. “We believe that, by leveraging technology and being able to engage with both merchants and consumers in a different way, it really benefits the overall ecosystem incredibly.”

Partnering for distinctive, safe point-of-sale experiences

“We’re really excited about our partnership with Microsoft,” explains Strauss. “One of the features that sets this solution apart from others in the market is the transaction acceptance booster, which provides a direct communication channel for contextual transaction data, called transaction trust knowledge, with participating issuing banks and networks.”

The collaboration will immediately profit retailers utilizing Dynamics 365 Fraud Protection. A function that units the appliance aside from different options available in the market is the transaction acceptance booster, which gives a direct communication channel for contextual transaction information, referred to as transaction belief information, with collaborating issuing banks and networks.

“What’s been really cool is that we’ve built this way for merchants to connect to a relatively simple API, enabling them to share data with the right elements of consumer privacy, and get that information over to Capital One before the authorization comes through the Visa/MasterCard network. This delivers a much better decision to the merchant and to the customer on whether or not to approve or decline the transaction.”

As soon as enabled in Dynamics 365 Fraud Safety, transaction belief information is transmitted to Capital One and algorithms run in actual time to optimize and maximize acceptance charges.

“We think there’s tremendous power in this capability, both to reduce those false-positive declines and to capture the true fraud. This reduces strain on the ecosystem of merchants, including Capital One having to take a fraud claim, and merchants getting the charge back and having to process that. I think there’s an opportunity to just create tremendous value.”

Get the total story

Watch the total dialog between Jeffrey York and Sarah Strauss as they go deeper into how Capital One is working with Microsoft to protect customers from fraud, and remember to test again for extra conversations about folks and organizations making an impression within the coming weeks.

Be taught extra

  • Learn further blogs about methods to mitigate fraud danger:
  • Watch the webinar, “Best Practices for Thriving in the Retail Industry Today,” with Microsoft consultants protecting finest practices from the retail sector, together with learn how to mitigate fraud danger, management operational prices, acquire visibility into your end-to-end provide chain administration, and leverage will increase in e-commerce exercise. Hosted by Alysa Taylor, Company Vice President, Enterprise Purposes and World Trade Microsoft and Shelley Bransten, Company Vice President, World Retail and Client Items, Microsoft.



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