IRIS for payment service providers

Lower processing costs attract customers and/or increase your profit margin. With IRIS, your service offering in the area of fraud management will give you a decisive competitive advantage. Backed by IRIS’s multi-tenancy capabilities, a superior fraud prevention service can be provided at a very low TCO.

• One IRIS setup serves multiple customers completely independently of each other (“Chinese wall” principle).
• Changes to the multi-tenancy setup (e.g. adding a new customer) can be performed through parameter configuration and without service interruption.
• Dedicated decision models, data storage and workflows for each client, are complemented by an optional master decision model that applies to all clients.
• Hierarchical group and user role model
• Support of multiple languages and time zones

Leveraging its multi-channel capabilities, IRIS adapts easily to any custom payment processing, e.g. integrating with e-commerce payment gateways, or choosing payment channels based on IRIS’s risk assessment.

For instance, consider an unsecured direct debit transaction that comes into the authorisation system from an e-commerce merchant. IRIS detects that the transaction has a high possibility of fraud or chargeback. The normal reaction would be to decline the transaction. This costs your merchant lost revenue and you lost transaction fees.

Perhaps you could protect your merchants’ revenue and your own transaction fees, by reacting differently, say returning a message in real-time stating that an unsecured direct debit transaction is not possible at this time, and offering alternative payment methods, such as credit card or payment before delivery. This only works if your fraud protection solution is 100% real time, like IRIS.