Comment on Lloyds Commercial Banking Rolling out New Service for Payments Directly on an Organisations Website

  • Payments
  • 27.07.2021 05:20 pm

Okan Ozaltin, GM Payment Solutions, Signifyd;

"As consumers increasingly adopt APM (alternative payment methods) for online transactions, potential lower transaction costs and instant receipt of funds are making some bank-to-bank payment methods popular with merchants.

Supporting a full range of payment methods is important to convert customers and grow CLV, but increasing decline rates can make this a double-edged sword.  Merchants are however struggling to cope with the increased complexity and lack of data required to make accurate decisions on genuine customers vs fraudsters. 

Fraud will still be an issue regardless of the payment type used and merchants need to ensure their payment tool kit includes specialist tools to automate fraud reviews and increase approval rates for all types of payments."

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