Scenario
A global payment management company partnered with TransUnion® to support a leading British retailer in addressing key challenges in its digital payment ecosystem. The retailer aimed to increase acceptance rates and reduce revenue losses by:
- Improving 3-D Secure (3DS) authentication approval success rates by both volume and value
- Preventing revenue losses from foreign card transactions
- Achieving measurable return on investment (ROI) during a trial period
- Meeting or exceeding industry benchmarks for transaction approval rates
Strategy
To address these challenges, TransUnion deployed TruValidateTM Device Risk across two of the retailer’s nine integration channels for a three-month trial in 2023. Backed by TransUnion’s long-standing global consortium, Device Risk uses multiple attributes, including geolocation and IP address, transaction velocity and evasion attempts, to recognize and evaluate risk. The platform also features customizable risk rules and an intuitive user interface that allows for evidence reporting capabilities that focus on device-level connections rather than account-level behavior.
Using Device Risk to identify devices with past connections to fraud enabled the retailer to quickly assess risk and act quickly.
Results
The short-term trial yielded impressive results:
- 3-D Secure approval success rates increased:
- By value: from 97.49% to 99.16% (+1.67%)
- By volume: +1.74%
- ROI: For every £1 spent on Device Risk, the retailer saw a £37.69 return on investment
- Revenue impact: The increase in approval rates led to an additional £1,282,283 in revenue
Learn more about Device Risk and how it can help your organization reduce fraud and deliver more seamless customer experiences.
