Adyen (AMS: ADYEN), the payments platform of choice for many of the world’s leading companies, today announced its partnership with Food delivery company, Easi, to optimise the payments process for its customers while reducing risk as it expands locally and globally.
A key benefit of Easi’s partnership with Adyen is the ability to combat the increasing scenarios of card testing and levels of card-not-present fraud blighting the online food delivery industry. Using the Adyen platform has helped Easi introduce effective fraud prevention measures and avoid loss of revenue due to fraud.
Created in Melbourne in 2015, Easi has grown to deliver meals and groceries from more than 20,000 partner restaurants to the doorsteps of more than a million users.
“We know that the online food delivery is one of the industries that fraudsters focus on and that’s why we’ve been working with Adyen to use a combination of machine learning and risk rules-based technology to help us to reduce the risk,” says Evan Li, Chief Information Officer, Easi. fintech news
AusPayNet, an industry body for the payments industry in Australia, reported in December 2018 that a six year run of double digit increases in the value of online card fraud had finally slowed to single digits – 2.4 per cent. With exploding growth and the need for rapid transaction processing, food ordering is expected to continue to be avidly targeted.
By deploying Adyen’s leading fraud management engine, RevenueProtect, Easi can now apply customised rules and alerts that reduce the risk of fraud. The customisable risk rule engine, which leverages machine learning, has helped Easi to create a frictionless customer experience, reducing transactions that are legitimate but declined due to suspicion, known as false positives. This has resulted in a dramatic reduction in chargebacks and increased conversion rates.
“Using transaction data and technology, Easi has been able to build tailored intelligent risk profiles that really strike a better balance between fraud prevention and a frictionless payment experience,” says Li.
Thanks to RevenueProtect, Easi is able to profile the risk associated with customers through a combination of device fingerprinting, algorithmic matching and behavioural analytics.
“We’re able to see if a customer has made multiple transactions, changing identities and data points. It keeps us informed and on top of potential risky transactions,” says Li.
Looking ahead, Easi is building on its partnership with Adyen as it establishes its presence in new markets. Rather than setting up banking relationships in each country, the collaboration with Adyen enables Easi to offer a unified payment experience for customers across its Australian and international locations while working with just one payments partner.
Working with Adyen has been very beneficial and critical as we expand quickly into new markets. All we needed to do was request a new account and we’re ready to trade. We hardly had to do anything else,” says Li. Easi previously leant on Adyen when it consolidated all of its Australian apps in 2018, bringing them under one seamless payment platform. While consolidating back-end management of payments, Adyen’s all-in-one payments solution allows Easi to offer customers a wider variety of payment options.
The Adyen portal allows Easi to gain greater visibility across its various markets into trends, opportunities and red flags as it works to connect more restaurants with more hungry customers, via more freelancer drivers.
“Adyen is excited to partner with a growing local brand like Easi that appreciates the role of payments and fraud management in creating trusted, seamless customer experiences while boosting operational efficiencies. The Adyen platform is built to support growth and we look forward in working closely with the Easi team as they continue their global expansion,” says Michel van Aalten, Country Manager AUNZ Adyen.
