{"id":1019,"date":"2021-04-08T12:30:30","date_gmt":"2021-04-08T02:30:30","guid":{"rendered":"https:\/\/54.66.202.3\/?p=1019"},"modified":"2022-06-21T09:29:35","modified_gmt":"2022-06-20T23:29:35","slug":"false-declines-the-bane-of-the-payment-industry","status":"publish","type":"post","link":"https:\/\/www.gpayments.com\/blog\/uncategorized\/false-declines-the-bane-of-the-payment-industry\/","title":{"rendered":"False Declines, the bane of the payment industry"},"content":{"rendered":"\n

False declines, can be a neverending source of irritation for eCommerce retailers. False declines are valid transactions (would-have-been sales) that are rejected due to fraud speculation. Simply stated, they are legitimate transactions that are being wrongly denied. Profits are diminished when a successful sale is missed due to a false decline.\u00a0\u00a0<\/strong><\/p>\n

Consider a false decline from the buyer’s perspective. They <\/span>most likely spent<\/span>\u00a0time researching their\u00a0<\/span>wants and needs.<\/span>\u00a0In most cases,\u00a0<\/span>the process of\u00a0<\/span>purchasing<\/span>\u00a0good<\/span>s<\/span>\u00a0is the same<\/span>. The buyer devotes time to researching various products, reading customer reviews, and comparing features. Finally, they\u00a0<\/span>make a decision<\/span>\u00a0to buy,\u00a0<\/span>and the<\/span>\u00a0payment is<\/span>\u00a0rejected.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Next, what will\u00a0<\/span>happen<\/span>? One of two things will usually occur when a legitimate customer request is rejected. Either they\u00a0<\/span>choose a different card<\/span>\u00a0to make the payment with<\/span>, or they take their business elsewhere and buy from another merchant. Once a customer has decided to switch merchants, there is a slim to no chance of that customer returning to your platform. Merchants should also be wary of <\/span>bad press<\/span>\u00a0about them<\/span>\u00a0on social media\u00a0<\/span>when<\/span>\u00a0<\/span>customers\u00a0<\/span>share their\u00a0<\/span>bad experience<\/span>\u00a0with everyone. In the end, false declines lead to consumer dissatisfaction and reduce both merchants’ and card issuers’ profits<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Merchants and\u00a0<\/span>issuers\u00a0<\/span>should<\/span>\u00a0not be forced to track down false declines.<\/span>\u00a0However, there is a solution to this problem.\u00a0<\/span>In order to<\/span>\u00a0correctly detect fraud and reduce the likelihood of false declines, it all starts with authentication<\/span>\u00a0of the cardholder at the time of payment,<\/span>\u00a0and the integration of a 3D Secure solution<\/span>\u00a0that is compliant with\u00a0<\/span>EMV<\/span>C<\/span>o<\/span>‘s 3<\/span>D Secure 2\u00a0<\/span>payment authentication\u00a0<\/span>protocol<\/span><\/a>.\u00a0<\/span>This adds an\u00a0<\/span>additional<\/span>\u00a0<\/span>leve<\/span>l<\/span>\u00a0<\/span>of security<\/span>,\u00a0<\/span>which helps<\/span>\u00a0<\/span>to\u00a0<\/span>reduce false declines, reduce fraudulent\u00a0<\/span>transaction<\/span>s<\/span>,<\/span>\u00a0and\u00a0<\/span>increase\u00a0<\/span>issuer payment\u00a0<\/span>approvals.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Solution<\/span>s<\/span>\u00a0<\/span>that can help merchants, issuers and payment service\u00a0<\/span>providers<\/span>\u00a0<\/span>are<\/span>\u00a0<\/span>off<\/span>ered by <\/span>GPayments<\/span><\/a>.\u00a0<\/span>All<\/span>\u00a0<\/span>are\u00a0<\/span>EMV<\/span>C<\/span>o\u00a0<\/span>certified<\/span>\u00a0<\/span>solutions<\/span><\/a>, providing\u00a0<\/span>a complete range of integrated authentication products based on the 3D Secure\u00a0<\/span>2\u00a0<\/span>protoco<\/span>l<\/span>,<\/span>\u00a0and\u00a0<\/span>are\u00a0<\/span>compliant with all\u00a0<\/span>the\u00a0<\/span>major card schemes.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

3-D Secure<\/span>\u00a02<\/span><\/a>\u00a0is the most recent set of protocols that can authenticate Card-Not-Present transactions<\/span>,<\/span>\u00a0on any device<\/span>,<\/span>\u00a0while reducing false declines through improved risk-based authentication.<\/span>\u00a0<\/span>Over<\/span>\u00a0<\/span>100 data elements<\/span>,<\/span>\u00a0<\/span>involved in the\u00a0<\/span>cardholder-merchant transaction,<\/span>\u00a0<\/span>are shared with the issuer to aid in the\u00a0<\/span>risk<\/span>-based\u00a0<\/span>authentication of the cardholder<\/span>, allowing<\/span>\u00a0the<\/span>\u00a0issuer<\/span>\u00a0to authorise<\/span>\u00a0transactions<\/span>\u00a0with greater accuracy.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Due to<\/span>\u00a0<\/span>the amount of<\/span>\u00a0information<\/span>,<\/span>\u00a0<\/span>about the cardholder,\u00a0<\/span>collected<\/span>\u00a0<\/span>during the payment process<\/span>, using EMV 3DS<\/a> will result in smooth and efficient authentication,\u00a0<\/span>fewer challenge<\/span>s to the cardholder,\u00a0<\/span>fewer declined transactions, increased approvals, enhanced customer confidence, and a<\/span>n improved, more frictionless<\/a><\/span>\u00a0shopper experience.<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Are you a merchant\u00a0<\/span>who<\/span>\u00a0wants\u00a0<\/span>to increase<\/span>\u00a0<\/span>your profit<\/span>\u00a0margin<\/span>s?\u00a0<\/span>W<\/span>e have been helping\u00a0<\/span>businesses reduce fraud and false declines for more than 20 years.\u00a0<\/span>Get in touch with<\/span>\u00a0<\/span>GPayments<\/span><\/a>\u00a0and let us help you reduce false declines and boost your bottom line.\u00a0<\/span>\u00a0<\/span><\/p>\n\n\n\n

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Learn More About Our Products<\/a><\/div>\n\n\n\n
Contact Us<\/a><\/div>\n<\/div>\n\n\n","protected":false},"excerpt":{"rendered":"

False declines, can be a neverending source of irritation for eCommerce retailers. False declines are valid transactions (would-have-been sales) that are rejected due to fraud speculation. Simply stated, they are legitimate transactions that are being wrongly denied. Profits are diminished when a successful sale is missed due to a false decline.\u00a0\u00a0 Consider a false decline […]<\/p>\n","protected":false},"author":7,"featured_media":1022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,1],"tags":[],"class_list":["post-1019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article","category-uncategorized"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/posts\/1019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/comments?post=1019"}],"version-history":[{"count":10,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/posts\/1019\/revisions"}],"predecessor-version":[{"id":1324,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/posts\/1019\/revisions\/1324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/media\/1022"}],"wp:attachment":[{"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/media?parent=1019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/categories?post=1019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gpayments.com\/blog\/wp-json\/wp\/v2\/tags?post=1019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}