New Charts in Hourly Reports

FraudLabs Pro has introduced two new charts to the Hourly Report: the “Approval Rate by Hour” and “Rejection Rate by Hour”. These additions aim to provide merchants with diverse data angles for fraud prevention.

The hourly chart is a valuable tool that provides in-depth insight into the number of transactions, be it approved, reviewed, or rejected, that occur within each hour. By displaying this data in an easily digestible format, it enables you to identify patterns and trends that may not be apparent otherwise. This includes the ability to distinguish between peak hours, where transaction activity is at its highest, and non-peak hours, when activity is significantly lower.

Hour Based Statistics chart

The mentioned information is further segregated into two distinct graphical representations: “Approval Rate by Hour” and “Rejection Rate by Hour”. These graphs offer a detailed perspective on the hourly rates of approval or rejection. These rates are computed by dividing the cumulative approvals or rejections by the overall number of orders. This granular data can serve as a valuable resource for pinpointing potentially suspicious transactions. For example, an unusually high rejection rate during a specific hour might require extra scrutiny or increased vigilance.

Charts of Approve Rate by Hour and Reject Rate by Hour

In conclusion, the introduction of the “Approval Rate by Hour” and “Rejection Rate by Hour” charts by FraudLabs Pro represents a significant enhancement in the fight against fraudulent transactions for merchants. These charts provide a refined understanding of transaction activity throughout the day, enabling merchants to identify patterns and anomalies that might indicate fraudulent behavior. By offering insights into peak and non-peak hours, as well as granular approval and rejection rates, merchants can make more informed decisions and bolster their fraud prevention strategies effectively.

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