Cashfree Payments, recently announced the launch of ‘RiskShield’, real-time risk management solution for payment gateways. It aims at reducing fraudulent activities upto 40% helping Indian businesses reduce chargebacks and disputes.
Akash Sinha, CEO and Co-founder, Cashfree Payments said, “As one of the largest payment service providers, it’s our responsibility to make the ecosystem safer and more secure for Indian businesses. We built ‘RiskShield’ to empower merchants to fortify their defense against fraudulent transactions.”
“This product is a result of years of Cashfree Payments’ research and analysis of high risk transactions into a set of tools that merchants can now use as a complete risk management solution through which they can curb cybercrime. We believe RiskShield will redefine the security landscape of online transactions in India, offering merchants unparalleled protection and peace of mind,” Sinha added.
Cashfree in a release said, “RiskShield uses advanced artificial intelligence and machine learning algorithms across their merchant network to identify fraudulent transaction patterns and safeguard the merchants from huge potential losses and litigation risks. Furthermore, this solution also empowers the merchant with a wide plethora of controls to define very specific rules that are applicable only to their business scenario with their existing system with no engineering effort.”
Ramkumar Venkatesan, CTO, Cashfree Payments said, “RiskShield provides such businesses
with a comprehensive solution built on AI & ML algorithms and a rule engine to address these
operational gaps. RiskShield will be invaluable for businesses facing high chargebacks/frauds,
including Financial services, e-commerce, travel and more.”
