The payments ecosystem spends 99% of its time and money on the 1% of the people who are out to exploit the system: the fraudsters. It’s now time to turn the tide.
Nuvei Chief Operating Officer Vicky Bindra and Prove Chief Product Officer Nicole Jass told Karen Webster that instead of simply focusing on keeping the bad guys out, it’s time for merchants to focus instead on letting the good guys in.
“The whole discussion on fraud has evolved from identifying the transaction to following the experience,” said Bindra. That means that something different has got to be tried.
Call it the “good guy” strategy.