An ongoing increase in data breaches along with growing adoption of EMV chips in payment cards has caused growth in fraud among online retailers. Lumen, a platform developed by XOR Data Exchange, was designed to help combat fraudulent efforts by identifying individuals put at risk by data breaches so that retailers can protect them from account takeover attempts.
For every purchase, Lumen will provide you the insights needed to determine whether or not you should take extra measures to ensure the customer is who they say they are. Returns include:
Customers that carry high risk of account takeover may be using the same or similar login credentials to access their customer account as those that were compromised by one or more data breaches. With these insights, you have the opportunity to confirm the identity of risky customers by requiring re-entry of payment information or requesting a password change, ensuring that your customer is, in fact, who they say they are.
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