Intelligent CISO Issue 45 | Page 65

Data security incidents are disastrous for the customer ’ s trust in a merchant or a business .
BUSINESS SURVEILLANCE
At Amazon Payment Services , we protect our merchants and their customers using sophisticated anti-fraud measures that automatically evaluate transactions in real-time to detect fraudulent behaviour .
How does access to business insights provide a competitive edge and retain customers ?
Having access to business insights enables merchants to understand their customers and their purchasing behaviour on a deeper level . Combined with a customer-obsessed approach , this knowledge enables merchants to optimise their payment process to meet the wants and needs of customers and address their concerns , as well as segment their audience of online shoppers for more effective targeting .
The right data will empower merchants to confidently build strategies to achieve their core business objectives and tailor their approach to meet customers ’ evolving needs and retain them over the long run . Data and insights about the online payment industry can also be leveraged by merchants to increase sales .
To help merchants dig deeper into the trends and markets that matter to them , Amazon Payment Services provides cutting-edge consumer payments insights covering the UAE , the Kingdom of Saudi Arabia ( KSA ) and Egypt free-of-charge , helping merchants make better , more data-driven decisions for their business .
Which payment services should businesses consider as part of their long-term strategy ?
Businesses should carefully select payment solutions based on their unique needs , goals and risks , while focusing on the customers ’ needs in the decisionmaking process .
Amazon Payment Services offers a wide array of payment services and solutions that provide a seamless customer experience , including tokenisation technology , local payment methods , thirdparty services such as advanced fraud tools and AWS Private Link , instalments , Buy Now , Pay Later , digital wallets , gateway redundancy and reporting APIs .
Regardless of the specific payment technology , businesses must invest in robust fraud-prevention solutions to secure the payment process . One of the most important pieces in the payment security puzzle is 3D ( three-domain ) Secure authentication .
Comprehensive support for 3D Secure is one of a multitude of services and solutions from Amazon Payment Services that enable a safer online shopping experience for your customers .
Why is scalability so important for organisations today and how does Amazon Payment Services enable this through its solutions ?
Scalability is crucial for e-commerce businesses , as websites need to be able to withstand spikes in traffic . If a customer sees that a merchant ’ s website is down , they will simply move on to a competitor .
Merchants have the challenge of scaling to meet company growth and periods of peak order volume , preventing friction for the customer , reducing chargeback and fraud losses , minimising false declines and keeping the cost of fraud prevention itself down to a reasonable level .
Amazon Payment Services enables merchants to reach out to millions of customers with fully scalable payment solutions . By working with thousands of merchants at every scale , based on their feedback , we completely revamped the onboarding process to empower them to create their own payment experience that will allow them to select the services that fit their customers ’ needs .
Today , we process transactions for thousands of businesses across multiple industries . With such a diverse customer base , we have built strong expertise that supports businesses at every scale , from SMEs looking to establish their online presence to large-scale enterprises requiring a dependable payment service to handle high volumes of transactions safely .
How does Amazon Payment Services set itself apart from others in this market and why should businesses consider you as a strategic partner ?
Established as PAYFORT in 2013 as one of the first FinTech companies in the region , we have gained a deep understanding of businesses ' needs across the region . In 2017 , Amazon acquired PAYFORT as part of the Souq Group acquisition . Since then , the focus has been on integrating PAYFORT and Amazon offerings to provide businesses with a convenient and trusted service .
Amazon Payment Services is now well-established , with more than 4,000 merchants across MENA and over 2,000 in the UAE , and is already one of the most trusted digital payment service providers in the region , having securely processed millions of transactions to date .
Today , we bring together local knowhow and Amazon ’ s global expertise , something we believe is a significant benefit to both businesses and merchants , and ultimately customers across the MENA region . u

Data security incidents are disastrous for the customer ’ s trust in a merchant or a business .

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