Open banking platform Tink has launched a rules-based risk engine to protect merchants from fraud on instant payment rails.
In brief:
- Tink says it has built Risk Signals so that businesses no longer need to compromise between a quick checkout and reducing risk.
- It uses account, balance and transaction data shared under a valid consent by the payer to make more accurate risk decisions to minimise fraud.
- Risk Signals consists of a suite of risk checks which Tink can customise per bank and market: Live balances; transaction history; and velocity checks.
What does this mean?
Tom Pope, SVP, payments and platforms, Tink: “Risk Signals is an ideal fit for businesses looking to offer a secure and fast payment method especially in markets without real-time settlement - like Germany. With Tink’s Risk Signals, you no longer need to compromise between a fast checkout and reducing risk."
