The Ultimate Guide To Protect

Tackling the dual challenge of payment optimization and fraud prevention takes strategic decision-making. Spreedly and Forter have teamed up to offer an ideal solution to confront these challenges. 

Merchants utilizing Forter’s fraud prevention solutions experience an average 72% reduction in chargeback rates and a 46% reduction in false declines. One Forrester study revealed that Forter clients achieve an average 229% ROI due to the combined business benefits and cost reductions. 

Payment optimization has become something of a buzzword in the eCommerce industry, offering merchants the chance to enhance customer experiences while also cutting costs. 

For businesses considering adopting a payment optimization solution, finding a flexible provider with proven, reliable fraud integrations can be the game changer needed to stay competitive. 

An Introduction to Protect

Protect is a Spreedly solution designed to address fraud prevention. 

With Protect, you can embed fraud management tools directly into the payment orchestration process, allowing for enhanced payment security and an improved customer experience. 

Optimizing your payment performance requires you to limit the risk of fraud across your payment system and process. Protect offers the preventative protections needed to keep your transactions secure while also enabling a faster time to market. You can customize Protect according to your fraud prevention needs, whether it’s basic 3DS compliance,a fully integrated fraud solution, or a combined approach to ensure you don’t overpay for 3DS with 3DS Optimization. 

Spreedly’s open payments platform as a whole provides merchants with access to a wide scope of capabilities beyond payment orchestration alone. Protect is the next step in our product suite to help merchants and marketplaces streamline payment flows and mitigate fraud more efficiently. 

The Protect approach to fraud management reduces operational overhead and helps you stay aligned with changing global regulations. You can use this solution to increase your authorization rates both domestically and internationally through the strategic application of advanced fraud tools and AI insights. Spreedly’s many partnerships with fraud management providers (i.e. Forter) help to deliver extensive fraud mitigation services powered by $350B+ in GMV network data.

Using AI-enabled solutions like Forter, you can reduce the number of false positives and chargebacks occurring in your system. Paired with Spreedly’s orchestration layer, these AI solutions can offer a seamless, low-to-no-code option for managing fraud-related risks from a single API call. 

How Does Protect Work? 

Protect comes into play in the payment lifecycle before a transaction ever takes place. 

As you prepare for the initiation of a transaction, Protect acts in the background to help derisk the customer and prevent unnecessary payment failures upfront. Protect is implemented via Spreedly’s existing auth and purchase transaction types and is intended to work in tandem with Spreedly’s broader platform, allowing you to access all of your transactional information, across all of your integrated gateways, and fraud tools from one central location. 

We’ve made Protect to widely encompass many businesses and use cases rather than building it to be specific to one industry. With so many different types of fraud in existence today, Protect provides a simple environment for managing and mitigating all types of fraud from within the same integration. 

Features of Protect include:

• Fully integrated fraud prevention within the payment orchestration layer
• Enhanced authorization rates through data-driven 3DS optimization.
• AI-powered fraud detection and decision-making tools by partners like Forter and Kount
• Flexibility to choose the level of integration and functionality 

On the topic of integration and functionality flexibility, we currently offer Protect in three tiers:

1. 3DS Only (Spreedly Global): As the most basic of the three tiers, this option enables compliance with strong global customer authentication (SCA) mandates. 
2. Payment Fraud Prevention Partner Integrations
3.  (from Forter/Kount): The second tier of Protect allows you to integrate your existing fraud tools into Spreedly’s orchestration layer. 
4. Fully-Enabled Fraud Management (powered by Forter): Protect’s highest tier is a fully embedded fraud solution that integrates fraud tools and 3DS management in a single API call, providing you with end-to-end optimization. 

How Protect Benefits Existing and New Customers Alike

Both existing and new Spreedly clients can benefit from Protect.

Protect provides advanced fraud management tools that integrate seamlessly with your current payment workflows. Customers seeking to improve compliance with SCA regulations can use Protect to enhance their compliance strategies and simplify the process of expanding operations into international regions.  

Through implementing Protect, you gain many operational advantages, such as: 

• Increased risk tolerance: If you’re dealing with high-risk transactions or operating in a high-risk industry, Protect can increase your approval rates by applying 3DS on a case-by-case basis. 
• Reduce fraud liability: Strategic use of Protect allows you to shift the liability of high-risk transactions, minimizing the threat of chargebacks and first-party fraud. 
• Increase authorization rates: You can tailor your payment process to use 3DS data specifically for issuers that use such data in their risk models, increasing your bank authorization rates. 
• Streamlined compliance: If you sell products or services in a region requiring 3DS (Europe, India, Australia, Japan, etc.), Protect helps you establish your 3DS strategy for each region.  

Another major benefit of Protect is its ability to cater to the unique needs of specific merchants and industries. Protect is a flexible solution designed for many use cases and can mitigate several different types of fraud, all from the same integration and platform. As a result, you can expand into new regions confidently knowing you have a custom fraud management solution that adjusts to your needs. 

Additional benefits of Protect include: 

• Simplified integration through a single API call for fraud, 3DS, and payment authorization
• Compatibility across PSPs available within Spreedly’s marketplace
• Frictionless authentication for legitimate transactions, including recurring payments
• Automation of 3DS processes, reducing your overall effort and risk

Protect’s Embedded Fraud Management Improves Payment Performance

Spreedly’s Protect solution addresses fraud prevention and payment security without increasing the technical or operational complexity for clients. 

Protect embeds fraud management tools into the payment orchestration process, supporting the creation of a highly secure central platform for accessing all payment-related tools and providers. The limited technical integrations required and wide access to payment performance tools Spreedly has to offer as a broader platform make Protect a dynamic product capable of highly adaptable fraud prevention. 

What makes Protect a strong choice no matter what industry you operate in is its customizability. If you already have a large in-house fraud and compliance team, Protect can simply help fill in the gaps with basic 3DS compliance. At the same time, Protect can also provide a fully integrated fraud prevention solution that merchants and marketplaces can rely on to secure their payment flows. 

Embedding fraud prevention into the payment orchestration layer offers many advantages:

• Simplified payment and fraud prevention flows that overlap seamlessly
• A payment service provider (PSP) agnostic solution that enables greater operational flexibility while simultaneously reducing operational overhead
• Strategic use of 3DS and fraud management tools to increase authorization rates and improve the customer experience throughout the payment process

A Look Into Spreedly’s Multi-Provider Approach and Forter Partnership

Payment platforms that limit your ability to integrate different PSPs and fraud vendors put your business at risk of vendor lock-in and substantial downtime should their systems fail. 

Spreedly’s multi-provider approach embraces the idea of gaining more value from a more diverse portfolio of providers, rather than siloing your operations into a single platform or vendor. Through this more unified strategy, the integrations are already handled for you by Spreedly’s orchestration layer and many partnerships with payment and fraud prevention providers. 

A core advantage of Spreedly is the ability to leverage insights from our many partners, including Forter. Leveraging these insights delivers robust fraud mitigation powered by $350B+ in GMV network data.

Together, Spreedly and Forter offer a flexible, PSP-agnostic fraud prevention solution embedded into Spreedly’s global payment orchestration layer. Forter’s identity graph and AI-driven fraud decisioning integrate directly into Spreedly’s payment workflows, providing merchants with real-time fraud detection. 

Spreedly’s Protect solution powered by Forter involves the use of vendor tokens created in the Spreedly account. Merchants use these tokens for payment authorization and initiating fraud management checks. 

Through the Protect solution, customers can gain benefits like:

• Faster time to market
• Access to advanced fraud prevention tools without time-consuming technical integrations
• A single API call for orchestrating fraud checks, payment authorization, and 3DS authentication
• Intelligence application of fraud checks and 3DS challenges to optimize payment flow efficiency
• Minimized customer friction via boosted authorization rates
• Tailored fraud solutions informed by Forter’s expansive fraud intelligence network and Spreedly’s all-encompassing payment orchestration capabilities

Compliance Meets Optimization: The Joint Mission of Spreedly and Forter

3DS authentication is an essential component of global regulatory compliance. Protect’s intelligent application of 3DS checks simplifies compliance and uses Forter’s artificial intelligence (AI) capabilities to enhance fraud detection and authorization success. 

Spreedly and Forter aim to achieve three main goals through Protect:

1. Offer a seamless fraud prevention solution embedded directly into Spreedly’s platform
2. Improve payment outcomes and authorization rates through intelligent risk management
3. Maximize revenue and customer lifetime value with intelligent fraud checks and challenges

For clients who already use Forter in your fraud prevention workflows, Protect gives you the freedom to embed your fraud solution directly into your payment orchestration layer without sacrificing your PSP-agnostic status. The single API call makes it easy to reduce fraud and keep costs lows.

As for clients new to Forter, Spreedly’s open payments platform and Protect solution are the best ways to add Forter into your payments stack. Forter’s fraud management solutions can significantly improve your approach to resolving financial fraud and abuse. You don’t have to worry about upfront investments either, as Protect offers a low implementation cost. 

Choose Protect for Your Fraud Management Solution

Protect embodies Spreedly’s overarching mission to provide merchants and marketplaces with a truly optimized payment ecosystem. Combined with our open payments technologies and payment orchestration layer, Protect is the solution you need for fraud prevention and risk management. 

In addition to being a leading provider of payment orchestration and open payments technologies, we provide the platform necessary for the seamless integration of Forter solutions into your payment workflows. By offering multi-provider support, Spreedly makes it easy for merchants and marketplaces to expand their operations globally while scaling their fraud prevention solution at the same time.

Speak with Spreedly today to learn more about Protect. 

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