Global finance technology platform, Adyen, has launched an AI-supported payment optimisation suite to help businesses manage fraud and reduce the cost of payments. Known as Adyen Uplift, the program offers data-backed, personalised performance recommendations, allowing businesses to test different payment configurations for the best outcomes.
Adyen Uplift employs AI to bring all elements of transaction datasets onto a single product suite. Rather than attempting to navigate multiple operation silos, businesses can make use of the AI-powered system to get more out of payments with risk-based intelligence and automated conversion optimisation. The pilot has reported a 6% uplift on payment conversion rates for businesses so far.
The AI program integrated into Adyen Uplift is trained on more than $1 trillion worth of global payment data made through Adyen, which has processed payments from more than one billion customers around the world, providing the intelligence to differentiate between regular shoppers and fraudsters. For retail merchants using the Adyen platform, this means that there is more than a 90% chance that Adyen has encountered new shoppers before. When a regular shopper is identified, AI-enabled programs help them to speed through checkout. This also reduces the risk of fraud payments.
Nord Security head of payments, Kes Saulis said, “We’ve increased our conversion rate on customer-initiated transactions by 10% by leveraging Adyen’s AI technology, which optimises the entire payment funnel while maintaining control over fraud and costs.”
Adyen’s pilot suite has reduced businesses’ manual risk rules by an average of 86%, with 35% of customers completely eliminating manual rules intended for fraud control.