South Korean payment service provider Eximbay has selected ACI Worldwide’s ACI Fraud Management for Merchants real-time fraud prevention solution to help secure its payment service capabilities.
"ACI has helped us deliver more secure international business expansion for our merchant customers, as well as deploy tailored payment and fraud strategies for specific sectors and markets," Jason Kim, CEO of Eximbay, said. "We look forward to expanding our partnership and providing even greater trust, reassurance and reach our customers expect and demand."
Eximbay sought out the service following a rise in the need to strengthen its fraud management methods for cross-border merchant customers’ payment gateway businesses.
The company also hopes to enable the ability to streamline connectivity to multiple payment partners to reach a larger sum of global eCommerce merchants.
"As cross-border eCommerce expands, gateways like Eximbay will be key to ensuring a trusted environment for merchants to prosper and grow," Leslie Choo, Managing director of Asia Pacific at ACI Worldwide, said. "This partnership will expand Eximbay's global payment network, providing unrivaled service and opportunities for its customers."
The service customizes its solution ideas according to the E-commerce demands of merchants and PSP clients. Its eCommerce transactions are handled on an instant accept, challenge, and deny decision basis.
The platform is credited with protecting merchants’ revenue, promoting growth and improving customers’ overall experience.
“A key aspect of ACI’s fraud solution is its proven track record of increasing acceptance rates while reducing rejection rates,” a press release reads. “It combines advanced machine learning models, predictive and behavioral analytics, customer profiling techniques, tailored rules, and global fraud intelligence to identify genuine transactions and isolate potential fraudulent ones accurately. The solution helps reduce fraud losses and minimize chargeback costs across different market verticals.”
The move is one of several expansion efforts made by ACI in the Asian Pacific region.