Paynova Fraud Prevention

Credit card fraud is a significant problem on the Internet. The most common approach is for a fraudster to use someone else's card information to purchase goods and services.

Every day there are media reports about more and more people being victims of fraud. What many people don't know is that the consumer is rarely the one to who has to pay for this type of fraud - in fact it's the banks and online merchants. The cost of dealing with credit card fraud continues to grow. Therefore the commerce sector should be concentrating on reducing the risk of fraud by automatically stopping undesired payments. Every fraudulent purchase affects a merchant's result. We have the technical solutions and the potential to break the negative spiral -- we just have to use them.

Paynova developed the ”Paynova Fraud Prevention” service for merchants doing business over the Internet. Our proprietary services and external partners allow us to offer online merchants a complete fraud prevention service that monitors transactions in real time around the clock. We help online merchants choose which orders to accept or deny based on more than 150 different parameters. The service is included in the price, and is fully integrated into Paynova’s payment platform.

What kinds of fraud do we protect you from?

Paynova’s built-in fraud protection protects you against numerous risks, through measures including:

• Identifying and flagging stolen cards as "high risk," and blocking them for Paynova merchants.
• Blocking IP addresses that make repeated purchase attempts using different card numbers.
• Expose and stop advanced fraud attempts that use tactics such as several different orders with different email addresses and different card numbers, but a shared common denominator.
• Identifying cards that have been used fraudulently with another merchant in our partners’ global merchant network and automatically flagging it as high-risk or blocking it.
• Locking out computers that have been used in previous fraud attempts by using Paynova’s built-in "Device Fingerprint," a tracking system that takes a digital fingerprint of every visitor’s computer.

Paynova Fraud Prevention employs these and other controls in real time.

Rules

We compile the rules that are in force for your business in Paynova Fraud Prevention. The rules can be updated quickly as needed. Examples of rules:

• Limit the cards you accept to those where the bank guarantees payment by using 3D Secure. Limit the cards you accept to those issued in the countries where you do business.
• The ability to deny all purchases from certain countries by restricting purchases from IP addresses or card numbers from these countries.
• Limit the number of purchases that can be made from a particular IP address or computer during a certain time period.

There are endless possibilities to create different combinations of rules. Paynova has in-depth expertise in this area, and together with you we develop the rules that are right for your individual business. Contact us to learn more.