Company Context

PaySecure is a mid-sized payment gateway provider with a growing user base of 2 million active merchants and $15 billion in annual transactions. The company is positioned as a reliable solution for small to medium-sized businesses, focusing on seamless integrations and low transaction fees. However, as transaction volumes increase, the company is facing a rise in fraudulent activities, leading to user concerns and increased chargebacks.

Problem

The VP of Product has identified that current fraud detection mechanisms are reactive rather than proactive, resulting in a 15% increase in chargebacks over the last year. User feedback indicates a lack of trust in the payment process, with 40% of merchants expressing concerns about security. The company aims to develop a new feature that enhances fraud detection capabilities while maintaining a user-friendly experience.

Deliverables

1. Design a new fraud detection feature that integrates seamlessly into the existing payment gateway interface.
2. Define the key algorithms and data sources that will be utilized for real-time fraud detection.
3. Propose a user onboarding and education plan to help merchants understand and trust the new feature.
4. Establish measurable success metrics for the feature's performance post-launch.
5. Identify potential risks and mitigation strategies related to user experience and technical implementation.

Constraints

• The feature must be developed within a 12-week timeline.
• Budget constraints limit the project to a maximum of $250,000.
• The solution must comply with PCI DSS regulations and ensure user data privacy.