Velocity checks in eCommerce fraud prevention are a crucial strategy used to detect and mitigate fraudulent activities.
These checks involve monitoring and analyzing the frequency and rate of transactions or specific behaviors performed by a user within a given timeframe.
A “payment reversal” is a term that encompasses any instance in which funds from a transaction are returned to the cardholder’s bank account. Sometimes referred to as “credit reversals” or a “reversal payment,” this process includes authorization reversals,
Fraud scoring is a method used by businesses to assess the likelihood that a transaction or user is fraudulent.
This scoring system evaluates various data points, such as the user’s historical behavior, transaction patterns, and geographical location,
A CVV code, or Card Verification Value, is a three or four-digit number found on credit and debit cards, serving as an additional layer of security for card transactions.
This code is typically located on the back of the card for Visa and Mastercard,
Chargeback alerts are a proactive tool used by merchants and financial institutions to manage and prevent chargebacks.
When a transaction is disputed by a customer, a chargeback alert is immediately sent to the merchant, notifying them of the potential chargeback.
A provisional credit is a temporary credit extended to a bank account holder while a disputed transaction is under investigation. This initial credit ensures that the account holder retains access to their funds during the dispute resolution process.
For years, Visa has maintained strict limits on the number of fraud and chargebacks that a merchant may receive. Now, though, with the introduction of the Visa Acquirer Monitoring Program, the card network is overhauling their approach.
When you think of April 15, the first thing that comes to mind is probably taxes, right? Well this year, that day means a lot more than rushing to get your forms in the mail by midnight.
With the value of Bitcoin, Ethereum, Ripple, and other cryptocurrencies skyrocketing in late 2017, you might be curious about the prospect of accepting these coins in your store.
We know that most chargebacks are the result of friendly fraud. More than 80% of all chargebacks are traceable back to friendly fraud in one way or another.