Interactive PAYMENT TECHNOLOGY
Gaming operators that are cognisant of the role of payments and payment
security are putting increased emphasis on their fraud
strategies and making this part of their overall drive to optimise the customer experience. They are implementing tiered fraud strategies, which deals with high-value, low-risk
customers in a different
manner to low-value, high-risk customers.
positives and poor customer experience, which ultimately impacts consumer loyalty and the company brand. Dynamic fraud solution and flexible rulesets – increasingly backed by adaptive machine learning models – are being employed by operators that want to optimise user experience at the same time as ensuring customer protection.
THE ROLE OF POSITIVE PROFILING AND ADAPTIVE MACHINE LEARNING Te need for instant fulfilment, especially for in- game purchases, requires a dynamic approach to fraud management. Reviewing and approving purchases in real-time is necessary so that gameplay isn’t interrupted or slowed down. Positive profiling is one approach that can help online gaming operators to manage fraud, with shared intelligence across companies.
the convenience of one-click payments. Other payment methods – those often referred to as alternative payment methods – may use prepaid cards, carrier billing, digital wallets (most notably PayPal) or online bank transfer. But regardless of the payment type, security cannot be compromised. After all, maintaining a safe and secure environment is paramount to the success of gaming operators, and critical to the overall integrity of the industry.
Payment security is important to gamers, too. One-third of paying gamers are less likely to make in-game purchases due to fraud concerns, and our newly released benchmark data produced in collaboration with Newzoo, reveals that 19% have experience fraud when paying
online. For operators, it’s therefore important to ease concerns and highlight security of the payment process.
HOW IS THE INDUSTRY RESPONDING? Gaming operators that are cognisant of the role of
payments and payment security are putting increased emphasis on their fraud strategies and making this part of their overall drive to optimise the customer experience. Tey are implementing tiered fraud strategies, which deals with high- value, low-risk customers in a different manner to low-value, high-risk customers.
One-size-fits-all fraud solutions have proved to be ineffective in a sophisticated digital environment, and breaches can lead to false
Imagine having access to transactional and fraud patterns and behaviors, including fraud data, not only from your own customer base but from across the industry. With this approach, profiles can be created and data models can be shared among institutions with a shared geographic, industry or product focus. Although just one of several parts of an effective fraud strategy, this can help reduce false positives and increase conversion rates with real-time decisioning.
Adaptive machine learning also has a role to play, again relying upon data that can be used to discover patterns and create algorithms that can learn from and make predictions on that data.
Te ability of machine learning algorithms to extract meaning from complicated data means that they can be used to identify patterns and highlight trends that are simply too complex – or require too much data to be crunched - to be noticed either by human fraud analysts or through other automated techniques.
NEWSWIRE / INTERACTIVE / MARKET DATA P99
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