Sift enables PSPs to protect revenue in every aspect of their business. With merchant management tools, flexible integration capabilities, and insightful reporting, the payment community is prepared to fight fraud for any transaction. Bolster your acceptance rates, reduce manual review, and improve chargeback outcomes for your merchants.
PSPs have a unique position in both the Payment Ecosystem and the Fraud Economy, because they interact with both merchants and their customers. This widens the net for fraudsters to exploit weaknesses at the transaction level or merchant level.
The global digital payment industry is valued at $81 billion*
The payments industry is experiencing rapid growth, and the massive amount of point payment tools available pushes PSPs to differentiate themselves with real-time adaptability. They must consistently predict and meet the needs of all sizes and kinds of merchants. Ever-changing expectations from alternative payment methods to regulatory innovation also keep PSPs occupied with serving the requirements of consumers and regulatory entities.
*Source: Grand View Research
PSPs saw a 169% increase in payment fraud rates in 2021*
Fraud in this space is calculated based on the combined abuse rates reported by merchants served by Sift’s PSP customers. In researching these trends, our Data Scientists uncovered a key theme: fraudsters follow the money. While PSPs must be prepared for payment fraud via stolen credit cards, even greater consideration is needed concerning collusion via fraudulent merchant accounts as the loss potential is much greater.
*Source: Sift data
Visit Sift’s Fraud Intelligence Center for up-to-date trust and safety trends, new industry data, and emerging fraud tactics.
Serving various merchants on a single platform is complex, and requires a flexible fraud prevention strategy. The Sift Digital Trust & Safety platform ensures you’ll be able to protect your merchants even with limited order details—creating an efficient, low-touch fraud management experience that fuels growth for you and your merchants.
Proactively detect fraudulent activity within your merchants’ transactions, and take action quickly to mitigate losses on behalf of your platform users.
Our API fields are purpose-built for PSPs, offering expanded support for various payment methods, analyzing fraud merchant-by-merchant, and reviewing trends across your customers, even when incoming data is limited.
Drive growth and protect revenue by monitoring and acting on trends with merchant-level reporting. Advanced segmentation and easy exporting quickly uncover opportunities to improve productivity and efficacy.
With a multi-level approach to account management, merchants are in control of their own fraud strategy. Proper escalation and queuing assist in routing review for enhanced coverage of watched transactions.
Stop fraud, break down data silos, and lower friction with Sift.
