Worldpay and Capital One have announced a data-sharing partnership to enhance fraud detection, strengthen payment security and improve transaction efficiency.
Under the agreement, merchants using Worldpay’s FraudSight solution will automatically benefit from enhanced fraud detection whenever they accept payments from Capital One cardholders.
Worldpay has established a direct link to Capital One’s fraud risk engine, allowing it to access transaction data from Capital One-issued cards. Through this integration within FraudSight, Worldpay anticipates a potential 40% reduction in false positive declines, based on Capital One’s internal data since the launch of its Direct Data Share programme.
Cindy Turner, Chief Product Officer at Worldpay, stated: “At Worldpay, we’re passionate about improving payments. Our data sharing collaboration with Capital One enhances the effectiveness of Wordpay’s innovative FraudSight solution and drives better outcomes for our merchants using the solution.
“Losses to online payments fraud reached $48bn worldwide last year and that amount is only set to grow as e-commerce markets expand at accelerated rates. While fraud detection continues to become more accurate, about 6% of e-commerce transactions were rejected due to suspicion of fraud and up to 10% of those are false declines.
“Together with issuers like Capital One, we can reduce losses and better protect our merchants – both through the detection of real fraud attempts and by reducing false positive declines.”
Through this partnership, the pair have stated that merchants can expect improved detection of actual fraud cases due to enhanced data sharing between Worldpay and Capital One. FraudSight aims to help merchants cut losses by accurately identifying fraud while also boosting authorisation rates by reducing false positive declines.
Jon Borman, Head of Fraud Strategy at Capital One, commented: “Innovation and ingenuity define our work with Worldpay, which is bringing a new level of security to every single payment made with a Capital One card for merchants using FraudSight.
“Our Direct Data Share tool is being offered to Worldpay as a free, secure and compliant product that allows their merchants using FraudSight to participate. By enhancing our data and information sharing, we’re not just cutting fraud, we’re setting a new standard for seamless and secure transactions.
“The powerful data sharing connection will optimise authorisation rates while protecting merchants, issuers and consumers alike from the risks and losses associated with fraud.”
Earlier this month, Capital One marked a significant milestone by partnering with Minna Technologies to introduce innovative subscription management tools directly within its banking app, a move described as a “first in the US market.”