Although 90 percent of people in North America would make a mobile payment, it’s believed that the reason why mobile payments have not yet taken off or become mainstream is because of security concerns. In fact, 69 percent of those not interested in mobile payments cite those security concerns.
Fortunately, international mobile payment firm Adyen is on the job of quelling these concerns. Having worked with companies such as Groupon, Kodak, and Getty Images, Adyen offers a next generation fraud tool that will help businesses both big and small keep their mobile payments secure and to track bad traffic and purchases as they come in.
“Mobile is a great space that makes life easier,” said Peter Caparso, President of North America for Adyen. “It allows for additional sales channels.”
This fraud control is a system that measures 28-individual checks, such as distance and referral. The boundaries of these checks, or parameters, can be changed by the business. Adyen will also work closely with your account team to advise the team and the monitoring, while allowing the business to do the monitoring itself.
“If it’s too tight, you’re losing good business,” said Caparso. “However, if it’s too loose, you’re allowing bad business and it’s not good to rack up fraud.”
Adyen offers more than a fraud control system. The company offers hosted Internet payments and supports over 75 payment methods across four continents. This type of support and hosting makes it easier for your customers to do single-click payments and reoccurring payments. It also offer payment analytics, so small businesses can always know how many people coming through and making mobile payments.
“Small businesses are still working on building the business” Caparso said. “Leave mobile payments with us and you can focus on your core business.”
Adyen’s goals are not only to make mobile payments more secure for businesses and consumers, but also to help businesses increase their conversions for those mobile and online payments. The company does this by supporting payments methods from all over the world, keeping the process consistent across multiple platforms, and integrating payment pages within the business’ website.
Caparso remarked that there’s a higher level of awareness regarding mobile payment security and fraudulent charges. This is due to the increase in the variety of mobile devices, as well as the consequences that can come from fraudulent charges and mediocre security.
“If you are vigilant and using the proper tools, you can minimize bad traffic,” he said.