The Different Fraud Management Services Offered by a Payment Service Provider
Online fraud is reaching new levels of sophistication, underscoring the need for those in e-commerce to bring their security protocols up a notch. The right payment service provider can equip merchants with the necessary tools for protecting both their business and customers from unscrupulous activity.
There are a number of security measures available on the market today, each presenting various advantages depending on the needs and goals of merchants. One of the most widely used is a payer authentication service, which adds another authentication step for making online payments. This is based on the 3-D Secure protocol of major credit and debit card companies such as Visa and MasterCard.
Another option is IP address geolocation. This adds an additional layer of security to merchants' websites by enabling them to evaluate risks of transactions based on the location of customers. Merchants are furnished with customers' location details, from their country, to their state, and even their city.
Meanwhile, card holder confirmation enables merchants to assess the validity of a card by processing random transaction accounts before charging the total amount of a purchase. The customer then confirms the transaction by entering the amount that the merchant charged for the item or service, thereby establishing that the customer is the legitimate card holder.
With the right payment service provider, merchants can also leverage the resources of other trusted companies for additional security through a data sharing service. This involves sharing transaction data with partner companies to gauge the fraud risk to their respective businesses. Such a service also allows customers to request a risk assessment for specific transactions.
Resource Box:
Cardpay Inc. is a payment service provider that specializes in multi-currency solutions, customer authentication services and fraud management. Its payment processing [http://www.cardpay.com/credit-card-processing] services are designed to help clients maximize profit and gain a competitive edge. Log on to CardPay.com or contact ++31208943601 to learn more about the company's services.
There are a number of security measures available on the market today, each presenting various advantages depending on the needs and goals of merchants. One of the most widely used is a payer authentication service, which adds another authentication step for making online payments. This is based on the 3-D Secure protocol of major credit and debit card companies such as Visa and MasterCard.
Another option is IP address geolocation. This adds an additional layer of security to merchants' websites by enabling them to evaluate risks of transactions based on the location of customers. Merchants are furnished with customers' location details, from their country, to their state, and even their city.
Meanwhile, card holder confirmation enables merchants to assess the validity of a card by processing random transaction accounts before charging the total amount of a purchase. The customer then confirms the transaction by entering the amount that the merchant charged for the item or service, thereby establishing that the customer is the legitimate card holder.
With the right payment service provider, merchants can also leverage the resources of other trusted companies for additional security through a data sharing service. This involves sharing transaction data with partner companies to gauge the fraud risk to their respective businesses. Such a service also allows customers to request a risk assessment for specific transactions.
Resource Box:
Cardpay Inc. is a payment service provider that specializes in multi-currency solutions, customer authentication services and fraud management. Its payment processing [http://www.cardpay.com/credit-card-processing] services are designed to help clients maximize profit and gain a competitive edge. Log on to CardPay.com or contact ++31208943601 to learn more about the company's services.