Accertify Product Overview
Accertify, a subsidiary of American Express, is a comprehensive risk management and payment processing platform designed to help businesses protect themselves against fraud, ensure secure transactions, and enhance the overall customer experience.
Key Functionality
Payment Gateway
Accertify’s Payment Gateway is a global, secure, and efficient solution that accepts and routes major payment transactions to over 50 acquiring banks worldwide. It supports more than 120 currencies and multiple alternative payment methods, making it a scalable solution for enterprise merchants managing large payment volumes. The platform offers fraud management and tokenization, ensuring a seamless and secure customer experience. It also provides an intuitive interface for generating detailed transaction reports with minimal IT involvement.
Fraud Detection and Prevention
At the heart of Accertify’s platform is its advanced fraud detection and prevention system. This system leverages machine learning, device intelligence, and user behavior analytics to identify and prevent payment fraud. The fraud management solution, known as Interceptas, includes Real Time Decisioning (RTD) that scores transactions in real-time based on predefined rule sets, turning large volumes of data into actionable intelligence to reduce fraud. The platform offers various transaction review models, including pre-authorization, post-authorization, or a combination of both, and provides recommendations to accept, reject, or manually review transactions.
Key Features
- Advanced Machine Learning and AI: Accertify’s fraud detection platform uses award-winning machine learning to identify valid transactions and prevent fraudulent ones. This approach is backed by a world-class decision sciences team.
- Community Insights: The platform benefits from rich community data, which enhances its ability to identify patterns and behaviors indicative of fraud.
- Deep Expertise: Human intelligence and deep domain expertise are integral to Accertify’s fraud strategy, offering fully managed services where dedicated fraud experts design and oversee the fraud strategy for businesses.
- Flexibility and Control: The platform provides flexibility and control, allowing businesses to balance customer experience and security effectively. It supports various payment methods, including credit cards and PayPal, and can be integrated with other systems using custom-made URLs for live and test environments.
- Tokenization and Fraud Checks: Accertify offers tokenization services, such as Pseudo Card Numbers (PCNr) for recurring transactions, and the ability to perform fraud checks on transactions, account creations, and changes in existing transactions.
- Compliance and Security: The platform is designed to comply with regulatory requirements, such as Strong Customer Authentication (SCA) regulations, ensuring a frictionless customer journey while maintaining high security standards.
Benefits
- Reduced Fraud Losses: Accertify has helped numerous businesses significantly reduce fraud losses. For example, Guitar Center saw a 62% reduction in fraud losses and a 106% increase in prevented fraud year over year.
- Increased Approval Rates: The platform helps in maximizing approval rates and minimizing chargebacks, as seen in the case of United Airlines, which increased its win rate by more than 40%.
- Streamlined Workflow: Accertify streamlines and optimizes workflows by reducing manual review rates, freeing up manpower for core business activities. For instance, a big-box retailer reduced manual review rates by 20% and achieved over $8.7 million in fraud savings.
- Protection Against Emerging Threats: The platform continuously updates its risk strategies using machine learning, protecting businesses against emerging fraud threats.
In summary, Accertify is a robust ecosystem that empowers businesses to stay ahead of emerging threats by balancing customer experience and security. With its advanced machine learning, community insights, deep expertise, and flexible control, Accertify is trusted by some of the world’s leading brands to protect their operations and enhance their customer journeys.