Payments firm Orum has debuted a tool to help clients prevent failed payments. No Code Verify, announced Thursday (May 2), lets businesses and institutions determine if a bank account is open and valid before initiating payments, Orum said in a news release. It’s an extension of the...
For online merchants, winning the high-stakes battle against fraud and cybersecurity breaches is critical to survival. PYMNTS Intelligence finds that 82% of U.S. eCommerce players with cross-border sales faced security-related challenges in the last year. These issues also negatively impact other aspects of business, enhancing...
Despite the many fraudsters on the prowl seeking to exploit any vulnerabilities they can find in the payments ecosystem, only about one-third of eCommerce merchants connect the dots between failed payments and potential fraud. Even more troubling: more than 40% of merchants will simply ask...
False declines, which cause friction in the payment process, have a detrimental effect on transaction success rates and discourage customers from returning. According to findings detailed in “Fraud Management, False Declines and Improved Profitability,” false declines put a staggering $157 billion at risk in the United...
March 08, 2024
Despite the many fraudsters on the prowl seeking to exploit any vulnerabilities they can find in the payments ecosystem, only about one-third of eCommerce merchants connect the dots between failed payments and potential fraud. Even more troubling: more than 40% of merchants will simply ask customers to “try again” should a payment fail rather than […]
February 23, 2024
False declines, which cause friction in the payment process, have a detrimental effect on transaction success rates and discourage customers from returning. According to findings detailed in “Fraud Management, False Declines...
February 21, 2024
Many U.S. eCommerce merchants prioritize international markets, but see higher failed payment rates in cross-border transactions than in domestic ones. These payment failures significantly impact their bottom line. PYMNTS Intelligence...
January 11, 2024
Many eCommerce merchants fail to connect the dots between fraud detection and failed payments. In fact, just one-third of merchants employ mechanisms that detect potential fraud as the cause of...
June 26, 2024
Open payments platform Spreedly has expanded its partnership with payments company FlexPay. The new collaboration, announced Wednesday (June 26), is designed to recover failed transactions and eliminate involuntary churn for subscription customers. With this expansion, FlexPay will offer Spreedly customers its Advanced Vault, a solution designed to increase transaction success rates, reduce the overall cost […]
May 02, 2024
Payments firm Orum has debuted a tool to help clients prevent failed payments. No Code Verify, announced Thursday (May 2), lets businesses and institutions determine if a bank account is open and...
December 28, 2023
Subscription companies lose an average of 9% of sales to failed payments. However, the top-performing merchants recover 60% of failed payments, saving ones that would have otherwise been lost, according...
