False Declines News Today

Payments firm Orum has debuted No Code Verify, a tool to help prevent failed payments by determining if a bank account is open and valid.

As scammers and fraudsters become more sophisticated, shoppers are demanding more effective fraud prevention tools from eCommerce merchants.

A sizable share of retailers views false declines as a big obstacle to positive payment experiences for shoppers, PYMNTS Intelligence reveals.

False declines, which cause friction in the payment process, have a detrimental effect on transaction success rates and discourage customers from returning.…

PYMNTS Intelligence research shows that over 10% of online transactions processed by the average eCommerce firm failed in the past year.

Experian announced the debut of Fraud Protect, a tool to help auto dealers detect and prevent fraud attempts against their customers.

While online retailers use screening to identify the cause of failed payments, most rely on tools designed to detect typos, missing the possibility of fraud.

ECommerce firms are grappling with the widespread impact of fraud, and according to PYMNTS Intelligence research, more than 80% encountered true fraud —…

Four in 5 companies cited difficulties knowing what caused failed payments as a challenge in fraud prevention. Two in 10 cited it as the most important challenge.

A false decline is a legitimate card transaction that is ultimately denied, either by a bank or a merchant because it is mistakenly considered a fraud…