MyGate's payment gateway offering includes a fraud module which helps to reduce online credit card fraud for merchants.
The fraud module analyses credit card transaction detail occurring on the merchant's payment page. Merchants are able to configure the module from a Web interface to best suit their particular industry. The fraud module bundled with NotifyMe, a real-time notification service via SMS or e-mail, ensures the merchant is notified of any potential fraudulent online credit card transactions.
Besides being compatible with MasterCard's 3D Secure and Verified by Visa, MyGate's fraud detection feature offers an array of configurable fraud products, giving the merchant the ability to flag or stop a transaction from occurring, based on their specific requirements.
Sophisticated queries are run against IP addresses, BIN as well as credit card numbers, countries and domains to monitor credit card activity against delivery address detail, excessive purchases and repeated credit card failure. The module also gives merchants the ability to blacklist credit card numbers, IP addresses and transactions originated from certain countries.
The service is expected to drastically reduce charge-backs for companies that are selling products like electricity or airtime, as product delivery is happening in real-time, giving the merchant no time to review the transaction or purchaser details.
The fraud module forms part of a product release that includes a number of feature updates, ranging from a more dynamic payment page, an improved notification service and enhanced reporting services, which merchants can configure via the Merchant Zone.
To find out more about MyGate's Fraud Module, contact Glen Ross on (021) 467 8979 or glen@mygate.co.za.
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