July 16, 2024

Frauds

Stripe Launches Enhanced Issuer Network to Fight Fraud

Stripe, a prominent player in the financial technology industry, has created the Enhanced Issuer Network, a collection of collaborations with significant US card issuers to decrease fraud. The Improved Issuer Network facilitates a lower incidence of fraudulent transactions, a more pleasant shopping experience for customers, and a higher percentage of accepted payments for merchants through risk analysis. Stripe’s fraud prevention technology, Stripe Radar, provides issuers like Capital One and Discover with encrypted accessibility to transaction fraud scores.

Stripe reports processing several hundred billion dollars annually for countless companies throughout the world. Each transaction is given a score from 0 to 99 based on the likelihood that it is fraudulent using machine learning techniques that have been trained on transaction data. Issuers can use the Enhanced Issuer Network to include Radar fraud scores within their authorization tools. Capital One is already doing this with their Improved Decisioning Data API.

 

“We’re happy to be a premier partner for Stripe’s Enhanced Issuer Network,” said Sarah Strauss, head of strategy and customer services at Capital One. Capital One’s Improved Decisioning Data API gives access to Stripe Radar’s fraud scores in a safe environment to authorize transactions with greater precision.

Stripe’s 2018 started on a shaky foot. The corporation’s market cap reportedly dropped by 11%, from $74 billion to $63 billion. In order to facilitate transactions in Europe and the UK and speed up its expansion into other regions, UK FinTech firm Revolut last year decided to employ Stripe, a financial technology platform for enterprises.

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