Barcelona, 15 September, 2021: PayRetailers, a leading Payment Service Provider for Latin America, shows that its industry-leading fraud prevention mitigated the effects of the Covid-19 pandemic.
Since the onset of the COVID-19 pandemic, e-commerce companies have been handling both an unprecedented volume of online purchases and fraudulent attacks. It is more relevant than ever to choose a Payment Service Provider that protects your business and boosts your growth, while providing a frictionless and safe customer experience.
Governance, Risk Management and Compliance (GRC) should be implemented by Payment Solution Providers that want to achieve business goals while managing risk effectively and staying on top of compliance. PayRetailers has established a robust GRC framework that allows Merchants to devote their energy to what matters the most – growing their business.
Carla Rebelo, Fraud Prevention Manager at PayRetailers:
“We can all agree that due to the COVID-19 pandemic, the trend towards digitization of the payment industry has reached unprecedented heights. Digital wallets, card-not-present transactions and alternative payment methods are rapidly replacing cash, checks and physical credit cards. However, this shift to digital payment channels came hand in hand with a rise in payments fraud, as fraudsters manage to thrive in the face of economic downturn.”
“I am convinced that what distinguishes us at PayRetailers is our ability to adapt to changes and our commitment to offering a service based on trust. These two characteristics will allow us to solidify our position in the payment industry and offer a powerful foundation to empower our clients to achieve the commercial success they seek.
Under this context of rapid growth and change, the work we are doing is more relevant than ever. We have already adopted a proactive approach, leveraging transactional data and machine learning algorithms to stop both known and emerging fraud patterns. We have developed a reliable and adaptive fraud prevention framework that enables legitimate transactions to proceed without friction.
As new digital payment options keep flourishing, we can only speculate on what kind of fraud will emerge. Even so, an experienced and dedicated fraud prevention team supported by AI-driven technology will allow PayRetailers to keep protecting consumers and Merchants, regardless of the selected payment method.”
At PayRetailers, the Fraud Prevention department is an integral part of the value proposition. Its role is proactively mitigating payment fraud risk and supporting Merchants along the way, relieving them from the costs and efforts of dealing with chargeback disputes and allowing business growth with full peace of mind.
PayRetailers is a leading payment processor for APMs, founded in 2017 with the idea of connecting merchants with the large potential customer base in LATAM. The company offers a secure and easy to use payment solution that is based on a seamless API integration and is suitable for multiple market segments, from e-learning to gaming, from financial services to travel and from ticketing to regular ecommerce for companies of all sizes.