As an internet merchant you are, unfortunately, not immune to theft and fraud. This can end up being a costly affair when you risk losing both the payment and the merchandise. Fortunately, help is available here.
QuickPay offers a variety of mechanisms that can assist in deterring fraud attempts, thereby minimize losses.
3-D Secure is a common international standard for enhancing the security of the online buying process. In addition to the card number and expiration date, the card holder is identified with a personal password, which has the special characteristic of not being printed on the card – similar to a PIN code for a physical terminal.
The 3-D Secure technology is marketed under the names MasterCard SecureCode, Verified by Visa, and J/Secure, and can be used with MasterCard, Visa, and JCB, respectively.
No additional agreements are required by QuickPay to offer 3-D Secure, however, the acquirer must be able to support it.
Fraud Fighter is a feature in QuickPay that analyses payments in an effort to identify fraud attempts. The system works on two levels:
Although fraudsters are resourceful, a relatively large portion of payments have a few characteristics that make it possible to recognize them as source of potential fraud. These include:
- The issuing country of a debit card
- The location of the card holder at the time of purchase
- The number of attempts used to authorize a payment
- Known proxies that try to hide the cardholders location
Payments that are recognized from these and other criteria will have one or more associated comments.
Every single payment that runs via QuickPay will be analysed and evaluated based on the historical data on fraud that the stores have regularly reported. The analysis has many similarities with a spam filter for email, and the system is continuously made stronger - and smarter - with each payment and fraud report it examines.