Choose the right PSP to avoid fraud and chargeback
By nature, high-risk merchants like Forex, Gaming, and MLM face a greater risk of fraud. According to estimates only in the e-commerce industry the loss due to fraudulent transactions estimated 20 billion USD globally in 2021. Fraudulent transactions lead to chargebacks and a decrease in profit as well as lost trust from the partners. Merchants have to look for comprehensive methods of fraud prevention and protection of their systems. It is a burden for merchants to find appropriate fraud―prevention systems and dedicate a significant part of the budget to such fraud―prevention systems. The best option is to delegate fraud prevention to the payment service provider. However, not all PSPs do that.
Fear not! Here in Billmont, we have implemented a machine learning fraud detection system to prevent fraud. All of our merchants’ transactions are inspected and we are able to protect our merchants and ourselves from fraudulent transactions. Billmont is ready to solve the fraud problem for you.