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tion approval and denial rates, false Building future-proof frameworks
positive rates and their ability to dif-
ferentiate between true and friendly Baldwin stressed the need for payments companies to make sure the intelligent
fraud rates. These systems provide systems and solutions they leverage are secure. "They need to ensure any appli-
a seamless, frictionless transaction cation under consideration is PCI PA-DSS or PCI Software Security Framework
journey for cardholders while creat- compliant and listed as a Validated Payment Application on the PCI Software
ing a high level of friction for fraud- Security Standards Council's website," he said.
sters and malicious attacks."
Baldwin noted these certifications will affirm not only that the system owner
Srinivasan noted that smart POS has the most up-to-date data security, but also that system users will be able to
systems keep fraud checks in bal- access only the information allowed by their configured roles.
ance by utilizing intelligent routing
capabilities to accept payments from "Bottom line: service providers need intelligently designed architectures that
cardholders around the world, while will allow them to be competitive in the changing world of payments," he said.
maximizing approval rates. These so- "By ensuring their systems can support high transaction volumes for any type
lutions, she added, can also adapt to of payment mechanism, they can have peace of mind knowing that their back
the changing payments landscape of office processing can not only handle today's fast-paced environment, but that
peer-to-peer payments, mobile wal- it also will not be obsolete in a few years."
lets, credit cards and cryptocurren-
cies. As payments experts have noted, secure, intelligent, agile and adaptable frame-
works will support future generations of payments applications, devices, net-
Intelligent dispute management works and platforms. This flexible architecture, combined with flexible, rules-
based engines will help clients futureproof enterprises across the payments
Trends worth noting in chargebacks ecosystem.
include high percentages of fraud and
disputes occurring in Latin America Dale S. Laszig, senior staff writer at The Green Sheet and managing director at DSL Direct LLC, is
and other emerging markets, Sriniva- a payments industry journalist and content strategist. Connect via email dale@dsldirectllc.com,
san stated, noting Visa released new LinkedIn www.linkedin.com/in/dalelaszig/ and Twitter @DSLdirect.
mandates to help merchants with
friendly fraud disputes. The emer-
gence of NFT platforms and mar-
ketplaces that accept credit cards for
NFT and cryptocurrency purchases
are also facing high dispute volumes
due to buyer confusion, and buy now,
pay later service providers continue
to experience high levels of friendly
fraud and chargebacks, she added.

Srinivasan pointed out that service
providers can mitigate these emerg-
ing threats by identifying the needs
of merchants and their respective
customer bases and offer solutions
that can help them grow their rev-
enue. Partner with reputable man-
aged service providers who can help
fill gaps by addressing specific pain
points or growth needs of merchants,
she advised.

Stay up to date with evolving indus-
try trends and new merchant solu-
tions by regularly attending industry
events, she advised, noting that these
activities will help keep your prod-
ucts and services aligned with the
ever-changing payments ecosystem
while remaining secure, compliant,
agile and intelligent.

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