The most effective fraud prevention solution available
Banks have a vested interest in helping their business customers in the fight against fraud. One service in particular may reduce the risk more than any other.
In today's era of digitized banking, security is more critical than ever. As sophisticated forms of fraud continue to rise, banks must innovate and enhance their security measures in order to better serve their business customers.
The most effective solution today is Positive Pay, a service provided by many financial institutions designed to safeguard against check and ACH payment fraud. Continue reading to find out all about this protective service.
of businesses experienced payment fraud in 2023
say checks remain the payment method most susceptible to fraud
is the median fraud loss for businesses with less than 100 employees
Businesses using Positive Pay report a significant decrease in check fraud incidents. Some studies have shown reductions of up to 90% in fraudulent activities after implementing Positive Pay.
By preventing unauthorized transactions, businesses can save substantial amounts of money. One even reported savings of more than $180,000 in the first year of using Positive Pay.
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