Fraud Protection

Credit card fraud prevention is one of the most important factors you need to consider when accepting credit cards online!

Credit card fraud is increasing year by year and that's why we take special care to minimize your exposure to fraud risk. First line of protection is our large database of recorded incidents through the last decade. Every time we record a new incident we add a filter to our system that will prevent it from happening again. In most cases we are also able to warn you ahead and, most importantly, we give you a choice to process or decline/refund a possible fraudalent transaction. Our team of specialists is trained in monitoring internet crime and we work full time to protect you. We also give full assistance in all dispute requests and do everything to solve each case in your favor.

Standard anti-fraud systems used by ccNetPay:

CVV2: This is a standard feature in e-commerce transaction today, it requires to enter an additional 3-digit or 4-digit number printed on the credit card. For example it will prevent corrupt merchant to simply capture the magnetic stripe details of a card and use them later for "card not present" purchases over the phone, mail order or Internet. Initials stand for The Card Security Code (CSC), sometimes called Card Verification Value (CVV or CV2), Card Verification Value Code (CVVC), Card Verification Code (CVC), Verification Code (V-Code or V Code), or Card Code Verification (CCV).

AVS (Address Verification System): The system will check the billing address of the credit card provided by the user with the address on file at the credit card company. AVS verifies the numeric portions of a cardholder's billing address. For example, if your address is 101 Main Street, Highland, CA 92346, AVS will check 101 and 92346. Sometimes AVS checks additional digits such as an apartment number, other times it does not. However today only few countries support AVS on Visa and MasterCard, notably the USA, Canada and the United Kingdom. American Express does support AVS in more countries. And because cardholders with a bank that does not support AVS may receive an error from online stores due to the lack of data and due to many possible database encodings which are not compatible, it is recommended to use AVS only when issuing bank and acquiring bank is from same country which supports AVS. With ccNetPay AVS is optional.

3-D Secure: 3-D Secure is an XML-based protocol used as an added layer of security for online credit and debit card transactions. It was developed by Visa to improve the security of Internet payments and offered to customers as the Verified by Visa service. Services based on the protocol have also been adopted by MasterCard, under the name MasterCard SecureCode. 3-D Secure adds another authentication step for online payments. During a checkout process cardholder is redirected to a credit card company website where he/she enters his special passcode or enrolls into 3-D to obtain a passcode first. 3-D Secure will minimize any risk of fraudalent transactions, so merchants are encouraged to use this system although it may cause perheaps less transactions due to possible confusion of cardholders which are not yet familiar with 3-D. With ccNetPay you can have 3-D turned OFF completely or turned ON as mandatory or optional. You must request 3-D before signup in order for us to choose a proper acquiring bank!

Beside standard credit card processing services, ccNetPay also offers advanced anti fraud screening service for PSPs, Banks and Large Businesses: [ Advanced Anti-Fraud Screening ]

Why is Fraud Prevention so Important?

• Bank/PSP may issue special penalty fee if CB rate is over 1.00%
• Bank may close your account after few consecutive months with CB rate over 1.00%
• PSP will charge you an additional chargeback fee of 20-50 EUR.
• Imagine following scenarios: You have received a payment from your online store and now you have to ship your product to the customer. What is the risk that the card is stolen, or that the customer disputes the charge after you have shipped the package? You have started your online business and you already have a high volume of transactions, nothing looks suspicious so far. What will you do if organised criminals have used stolen cards to boost your sales? You are running a successful online webshop, the competition is tough and one of the competitors wants to push you out of the market. He is making fake orders and you have shipped all of them. Now he is disputing all charges and you are getting massive chargebacks. What can you do once this has happened?

In all above scenarios your chargeback rate would rise and pose a major risk to your profits or even cause a merchant account closure. By using our anti-fraud services, you would be fully protected, giving you early warnings of potential fraud activity.

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> 22/01/2010 What Is a Merchant Account And When Do You Need One? > 15/01/2010 Introduction To Accepting Credit Cards On Internet > 03/01/2010 How To Start An E-commerce Business? > 22/12/2009 How To Manually Reduce Chargebacks And Fraud In Your Webstore? > 16/12/2009 How To Convince People To Buy In Your Webstore?   >  More Articles

CCnetPay LTD 95 Wilton Road, Suite 3 London, SW1V 1BZ United Kingdom Skype: ccnetpay [ Chat Now! ] Phone: +44 (845) 867 9378 Fax: +44 (845) 020 4259 Email: info @ ccnetpay.com Copyright 2010 CCnetPay :: All Rights Reserved