Helps minimize your
fraud related revenue leaks. *Fraud & Risk Identification System & Knowledgebase
Online shopping is clearly an excellent opportunity for any merchant to grow the business and increase revenue. However, the threat of online fraud and identity thefts can create damaging leaks to your revenue and has the potential to adversely affect your reputation beyond repair. As an e-Commerce entity your interface with your customer is virtual and therefore reputation and trust is of utmost pertinence in the online business space. Hence, preventing online fraud is a vital task for every successful e-Merchant and it is the foundation of building your reputation online.
Using a combination of best practices, leading technology and human intelligence, CCAvenue has developed a 'Fraud & Risk Identification System & Knowledge Base' (F.R.I.S.K.) that makes transacting online safer for our merchants. 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 improve your transaction success rates and reduces both your expenses and your potential chargeback losses. Unlike other third party payment gateways, CCAvenue F.R.I.S.K. is an integral part of the CCAvenue payment gateway system. And the good news is that this facility is available to you for FREE.
HERE IS A QUICK SUMMARY OF THE CCAVENUE F.R.I.S.K. OPERATIONS:
Once the data has been collected from your customer, every single field is assessed and monitored by our experts and every transaction is mapped against a comprehensive negative database built over a decade. This helps us trap fraudsters by looking for a match among certain parameters against prior fraud cases and illegal fraudulent activities registered in our system and warn you in time.
Each transaction that passes through the CCAvenue payment gateway is assessed and verified using over 150 parameters. Comprehensive checks and the robust CCAvenue risk management processes help minimize your fraud risk.
After the assessment each transaction is flagged either as High Risk, Low Risk or No Risk Transaction and you have the power and an intelligent choice to process the flagged transaction at your own discretion. Where the transaction is marked high risk, you will need to provide additional data as specified by our risk team to process the transaction.
Do remember, refusing a transaction is better than falling prey to a fraudster and exposing yourself to both losses and penalties.
A SNAPSHOT OF SOME PARAMETER CHECKS WE PERFORM:
Address Verification System (AVS)
It identifies the person claiming to own the credit card. The system crosschecks the billing details of the credit card provided by the user against the address at the issuing bank of the credit card.
It verifies whether the person making the transaction is in possession of the credit card by validating the three digit code on the back of the card.
Negative and Positive Databases
Checks against Negative Database is done to identify those who have done fraud or chargebacks in the past. Checks against Positive Database are also done to recognize trusted customers who have made genuine online payments in the past. These processes help weed- out bad transactions and to speed up retention of good and genuine customers.
Geo-IP Address Verification
It flags transactions coming from a suspicious computer configuration or categorically high risk regions.
It validates the card-issuing bank by checking the BIN (Bank Identification Number) on the Credit Card
It screens multiple payments that come from the same IP address by checking for repeated transaction attempts from the same computer or network.
CCAvenue’s F.R.I.S.K is a thorough process which is fast, adaptive, merchant friendly and FREE. These critical processes help preventing online fraud and help in protecting you from losses due to fraud.
We can therefore proudly state that the CCAvenue’s F.R.I.S.K helps merchants focus on their core business of soliciting customers for their products and services while leaving online transaction related risk issues to the experts!!