Sift Case Studies How Taptap Send transfers funds instantly and securely across the globe

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	How Taptap Send transfers funds instantly and securely across the globe Sift

How Taptap Send transfers funds instantly and securely across the globe

Sift

Technology Category	Analytics & Modeling - Real Time Analytics Application Infrastructure & Middleware - API Integration & Management
Applicable Industries	Finance & Insurance
Applicable Functions	Logistics & Transportation
Use Cases	Fraud Detection Real-Time Location System (RTLS)
Services	Data Science Services
Challenge	Taptap Send, a global remittance service, was facing an increase in fraudulent payments made with stolen credit cards as their business grew. They needed a streamlined fraud prevention solution that was nimble enough to scale across international lines and quick enough to meet customers’ needs. The market for global remittances, which accounts for over $500 billion annually, is dominated by traditional services that are expensive, can take days to arrive, and have limited reach in rural areas. Taptap Send was committed to providing their customers with a speedy, secure, and hassle-free user experience. Read More
About Customer	Taptap Send is a convenient, fast, and reliable remittance service helping customers transfer funds all across the globe—primarily from Europe to Africa and Asia. The app allows users to send money to friends and family with just a few taps and a debit card, eliminating the need to wait in line and deal with complicated fees and delayed transfers. Having moved tens of millions of dollars and reached tens of thousands of customers since launching in 2018, it was crucial for their app to ensure secure and trustworthy transactions. Read More
Solution	To provide their customers with the best remittance experience, it was critical for the Taptap Send solution to deliver first-class performance and reliable, real-time scoring. Sift partnered closely with the team to overhaul their integration and improve manual review processes to help prevent fraud payments made with stolen credit cards. The workflow helps to make instant decisions on orders, including which to send to 3DS, which to block, and which to allow based on the Sift Score as well their own internally-maintained rules system. Through the Sift Console, the analyst team can easily search for all the data they need in one place, reducing the need for more complicated software. With Sift, the app is now successfully preventing payment fraud while providing a convenient, trusted, and fast experience to their expanding base of customers. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Application Infrastructure & Middleware - API Integration & Management

Applicable Industries

Finance & Insurance

Applicable Functions

Logistics & Transportation

Use Cases

Fraud Detection

Real-Time Location System (RTLS)

Services

Data Science Services

Challenge

Taptap Send, a global remittance service, was facing an increase in fraudulent payments made with stolen credit cards as their business grew. They needed a streamlined fraud prevention solution that was nimble enough to scale across international lines and quick enough to meet customers’ needs. The market for global remittances, which accounts for over $500 billion annually, is dominated by traditional services that are expensive, can take days to arrive, and have limited reach in rural areas. Taptap Send was committed to providing their customers with a speedy, secure, and hassle-free user experience.

About Customer

Taptap Send is a convenient, fast, and reliable remittance service helping customers transfer funds all across the globe—primarily from Europe to Africa and Asia. The app allows users to send money to friends and family with just a few taps and a debit card, eliminating the need to wait in line and deal with complicated fees and delayed transfers. Having moved tens of millions of dollars and reached tens of thousands of customers since launching in 2018, it was crucial for their app to ensure secure and trustworthy transactions.

Solution

To provide their customers with the best remittance experience, it was critical for the Taptap Send solution to deliver first-class performance and reliable, real-time scoring. Sift partnered closely with the team to overhaul their integration and improve manual review processes to help prevent fraud payments made with stolen credit cards. The workflow helps to make instant decisions on orders, including which to send to 3DS, which to block, and which to allow based on the Sift Score as well their own internally-maintained rules system. Through the Sift Console, the analyst team can easily search for all the data they need in one place, reducing the need for more complicated software. With Sift, the app is now successfully preventing payment fraud while providing a convenient, trusted, and fast experience to their expanding base of customers.

Impact #1	By connecting Taptap Send’s API to data from Sift’s real-time machine learning model and over 70B global signals from our merchant network, the remittance service has been able to detect more fraudulent accounts and proactively prevent payment abuse.
Impact #2	The Sift solution has helped Taptap Send reduce their chargeback rate to a mere 0.1%, achieve a 96% score precision, and deliver a 1.42x return on investment.
Impact #3	As a trust and safety thought leader, Sift has even advised Taptap Send on best practices as they expand into the U.S. and Canada, ultimately helping to scale their business.

Impact #1

By connecting Taptap Send’s API to data from Sift’s real-time machine learning model and over 70B global signals from our merchant network, the remittance service has been able to detect more fraudulent accounts and proactively prevent payment abuse.

Impact #2

The Sift solution has helped Taptap Send reduce their chargeback rate to a mere 0.1%, achieve a 96% score precision, and deliver a 1.42x return on investment.

Impact #3

As a trust and safety thought leader, Sift has even advised Taptap Send on best practices as they expand into the U.S. and Canada, ultimately helping to scale their business.

Benefit #1	Reduced chargeback rate to 0.1%
Benefit #2	Achieved 96% score precision
Benefit #3	Delivered a 1.42x return on investment

Benefit #1

Reduced chargeback rate to 0.1%

Benefit #2

Achieved 96% score precision

Benefit #3

Delivered a 1.42x return on investment

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Overview

How Taptap Send transfers funds instantly and securely across the globe

Operational Impact

Quantitative Benefit