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Online fraud can damage both your overall profitability and reputation. It also one of the main reasons behind abandon shopping carts, as users are reluctant to share their sensitive card information online. So preventing online fraud is a vital task for every successful eMerchant.
Using a combination of best practices, leading technology and human interaction, CCAvenue has developed a 'Fraud & Risk Identification System & Knowledge Base' (F.R.I.S.K.) that makes transacting online a calculated risk. CCAvenue F.R.I.S.K is an unrivalled Heuristic Fraud Detection engine that provides an unprecedented level of risk detection that can help you to convert more valid orders automatically and reduces both expenses and potential chargeback losses. In June 2009, the risk mitigation processes used by the F.R.I.S.K. engine lowered the risk level to an insignificant 0.03%. Moreover, it is built into the system and unlike most payment gateways is available free of any additional costs.
The Processes
Phase I: Maps every transaction against a comprehensive negative database built over the last 8 years from fraudulent transactions that have taken place in over 90% of India's Merchants, who use the CCAvenue Payment Gateway.
Phase II: Assesses and verifies each transaction that passes through the CCAvenue payment gateway using over 150 variables such as Negative Database Mapping, High Risk Global IP Address Verification, Velocity Checks, Negative E-Mail Validation, Issuing Bank BIN Number Mapping, Zip Code and Telephone Validity Check etc.
Phase III: Each transaction processed is scanned for risk factors and flagged as risk prone transaction on identification of risk, which is verified by our qualified 18 member strong Risk Management team. Thereafter, processing the transaction is based on your own discretion.
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