Forter has partnered with Marqeta to give card issuers on Marqeta’s platform access to its pre-authorisation risk data to reduce false declines.
Forter’s data feeds directly into Marqeta’s Real-Time Decisioning offering and its AI-powered Risk Score, giving issuers and card networks more information when deciding whether to approve a transaction. Marqeta, whose card programmes include fintechs, marketplaces, and embedded finance platforms, joins a group of banks and issuers that already receive Forter’s pre-authorisation data.
Tackling false declines
According to Forter, more than 40% of transactions that issuers decline as fraud involve legitimate customers, often because issuers lack enough data to assess the risk properly. This costs merchants sales and can reduce customer lifetime value. Forter’s Payment Optimisation product gives merchants a direct API connection to share Forter’s fraud decisions, risk insights, and transaction data with card issuers, allowing them to relax decline rules that would otherwise reject legitimate customers.
Eugenia Gibbons, Chief Product Officer at Marqeta, stated that the collaboration brings fraud prevention directly into the payment decisioning layer. According to Gibbons, embedding Forter’s risk intelligence into Real-Time Decisioning allows Marqeta’s customers to approve transactions with greater confidence and less fraud risk. Because the data is shared before authorisation, issuers can take it into account at the moment they decide whether to approve a payment.
Sharing data across the payment chain
Aaron Begner, Vice President of Strategic Partnerships at Forter, stated that false declines directly affect merchants’ revenue, and that Forter aims to give trusted customers a good experience every time. According to Begner, the partnership with Marqeta brings Forter’s intelligence to more issuers and merchants, with benefits for issuers, merchants, and customers alike.
Forter uses a global identity network to make AI-based trust decisions across sign-up, checkout, and returns, and serves nearly 1 million businesses, including Nordstrom, Instacart, and Priceline. The partnership addresses a gap between merchants, which see how a shopper behaves before a purchase, and issuers, which approve the payment but often have less context about the transaction.
