My Merchant Account Blog

Fighting Fraud in your E-Commerce Store

Monday, January 01, 2007

Card association payer authentication (e.g. Verified by Visa (VBV), MasterCard SecureCode (MSC)) is becoming increasingly more important in online transactions. Also knowing whether the consumer is near his or her billing address by using Geo-IP. Other merchants would like to know if the consumer has a tendency to do a chargeback, maybe consumer purchasing behavior.

Quantum Gatway

The Quantum Payment Gateway is the only payment gateway in the United States to offer at no extra charges to the merchant:

• A Virtual Terminal (both for the desktop and your smart phone)
• MaxMind GeoIP
• QuantumVault (to safely secure you customers' credit card numbers)
• Recurring Billing
• Address Verification Service (AVS)
• DialVerify
• Verified By Visa / MasterCard Secure Code (VBV / MSC)

Verified by Visa / MasterCard SecureCode

I wrote some things regarding VBV / MSC a few months ago and it still holds true today. VBV merchants are protected from chargebacks on the Reason Code 83 (I didn't do it). MasterCard users though have to be enrolled in MSC for you, the merchant, to be protected.

Consumer Purchasing Behavior

While a number of electronic payment gateways use First Data's Nashville platform to process the credit card transaction, First Data maintains these transactions per Visa and MasterCard regulations. Using software developed by Fair Isaac Corporation, LinkShield™ is unavailable to LinkPoint merchants. A few gateways that use First Data's Nashville Platform include:

• LinkPoint Secure Payment Gateway
• Authorize.net Electronic Payment Gateway
• Verisign's Payflow Services
• PC Charge
• Cybersource
• Jettis
• USA ePay
• Yahoo®

This is just a small percentage of electronic payment gateways that use the First Data Nashville Platform as their transaction processor. First Data takes these transactions and profiles them. When using the LinkShield™ product along with the LinkPoint Secure Payment Gateway, the merchant has the ability to accept or decline the transaction based on the score that First Data provides. First Data also provides another option using the ClearCommerce® FraudAnalyzer

FraudAnalyzer uses neural network technology to score fraud risk in real-time. The model was developed by examining extensive transaction and chargeback data supplied by ClearCommerce's Fraud Data Consortium, which includes millions of e-commerce transactions supplied by thousands of merchants. With the addition of FraudAnalyzer, the ClearCommerce® Engine is the only transaction processing software that integrates merchant rules, neural network risk scoring, service data and human review to minimize credit card fraud costs.

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