Sphonic, PayPoint to enable companies to make fraud risk assessments

PayPoint’s FraudGuard 5.0 solution is a point-and-click suite of risk management tools for tackling potential mobile and online card fraud by making decisions based on consumer data. The tool allows businesses to analyse a range of consumer information, seasonal trends and market data to make decisions around unusual activity and assess genuine transactional risk.

The platform makes decisions by understanding a customer’s general shopping behaviour. It continually adapts these insights in line with market and merchant changes, thus isolating truly suspicious activity from both micro and macro trends. This is backed by visual reports charting consumer behaviours against market averages and only highlighting specific anomalies where transactions truly need to be checked.

According to Dan Salmons, Managing Director, PayPoint Mobile and Online, when it comes to card transactions, businesses need to find a balance between making sure they are spotting fraudulent activity and not alienating customers by declining legitimate card payments – which is often a fine line.

PayPoint is an international provider of payment technologies and it handles over GBP 14 billion from 775 million transactions annually for more than 6,000 clients and merchants.

Sphonic is the trading name of Symphonic Solutions. The company was recently established with backing from private investors to develop and launch Workflow Manager. Sphonic also provides professional services and research and development consulting for financial services, ecommerce and mcommerce clients globally.

For more information about Sphonic, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.