Wirecard Offers Merchants More Global Insights into Payment and Risk

The leading payment and internet technology company, Wirecard, announces an extension of the recently presented Omnichannel ePOS Suite with innovative technology for payment and risk optimization. With this update, Wirecard offers merchants even more added value, as the tool enables merchants to analyze customer value and churn rates as well as fraudulent behavior in the past and learnings for the future.

With the extension of the Omnichannel ePOS Suite, Wirecard once again asserts its position as leader in the field of risk management solutions. With over years of experience and leading products such as the Fraud Prevention Suite (FPS), the exploitation of innovative technologies like machine learning and artificial intelligence are the next logical steps. Significantly increased conversion rates and sales are the result of these new technologies, as they are combined with a year-long data history. With the new fraud management tool, merchants can easily adjust fraud settings individually to user specific patterns and have all relevant Key Performance Indicators in real-time at their fingertips.

Carlos Häuser, Executive Vice President Payment & Risk at Wirecard, says: “We are proud to extend our innovative Omnichannel ePOS Suite with this advanced risk management tool to help merchants understand and optimize their business. The dashboards give them the freedom to decide how they react to the recommendations from our machine learning algorithms and how to optimize conversion rates. This is all seamlessly integrated into a proprietary state-of-the-art analytics tool for omnichannel data.”

For example, insights about payment performance show, how various product categories perform from country to country and how the approval rate develops within specific timeframes. With this information merchants are able to decide with just a click at which rate between risk and profit they want to operate. Thanks to the AI algorithms, merchants get additional recommendations for future settings.