Fraud prevention and risk management have come a long way since the early 90s when the very first online transaction was processed. Nowadays we have sophisticated fraud detection algorithms to help you reduce the number of fraudulent transactions and the chargebacks that follow.
Credit card brands such as Visa and MasterCard closely monitor chargeback activity on all merchant accounts. Every chargeback is not only a financial loss, but it also increases your chargeback ratio (the number of chargebacks-to-transactions) which is required by the card brands to be kept under 1%. Recently, one of our travel merchants almost got shut down because of recurrent chargeback activity on their account. By placing fraud detection before the transactions were authorized and advising them to review all high risk transactions before they get settled, this helped diffuse the situation and has put them on the path of eliminating the ongoing chargeback penalties from the card brands.
GlobalOnePay's built-in fraud detection and scoring engine automatically determines the risk of every transaction. Because online fraud is always evolving, our solution adapts to emerging fraud patterns. It's safer, smarter payment processing. Here’s what the scoring engine does for you:
Our platform helps prevent online fraud by assigning a Risk Score to each transaction. This determines the probability of suspicious behaviour and alerts you when action is required. This is how it works:
Our solution is seamless and invisible to the site's visitors. We invite you to contact us for more information.
Tedd Huff, VP of Products, is a 19-year veteran of electronic payments, providing businesses with strategic and tactical direction by enabling a value-driven user experience. His goal is to simplify the complexity of payments and promote growth in emerging markets through fields such as mobile payments, e-commerce solutions, online fraud prevention and security. Tedd has headed a FinTech startup and delivered innovation and process improvements for multiple dominant payment organizations. As Vice President of Product for GlobalOnePay, Tedd heads up a team of global payment specialists, helping businesses grow faster by accepting a wider range of payments from virtually any market in the world.