In August 2009, the Reserve Bank of India passed a circular making it mandatory for all banks to add an additional authentication step to make all online transactions 3D Secure in order to bring down the level of fraud. Now, when transacting online in addition to entering a 16-digit credit card number, card expiry date and 3-digit CVV number (on the back of the card), all customers will have to enter a MasterCard SecureCode (MSC) or Verified by Visa (VBV) number to complete online transactions. The rules and regulation listed in the circular have made the online environment more secure. However, the telephonic business environment still needs to be protected from fraudsters and CCAvenue bridges this security gap with its IVR solution PhonePay.

CCAvenue PhonePay is a secure IVR solution to conduct telephonic transactions. It has a dual security and risk process that helps protect both you and your customers.

The first security process is Advanced Phone Technology. CCAvenue PhonePay employs advanced phone technology that allows a computer to detect touch-tones during a normal phone call, which cannot be deciphered by your customer services agent by ear. This means that you can collect credit card payments from your customers without your agents coming to know the credit-card details. This protects you and your customer from all those who seek to commit fraud and even your employees.

The second security process is a robust Risk Mitigation system. This system o minimizes the amount of risk involved in transacting via the telephone. CCAvenue PhonePay's robust Risk Mitigation system scans every transaction processed for risk factors and on identification of risk our qualified 18 member strong Risk Management team verifies transaction flagged as a risk prone transaction.

Every transaction is also mapped with a comprehensive negative database that maps every new processed transaction against previous negative database of fraudulent transactions using fields such as Credit Card numbers, Email Ids, Billing Name, Shipping Name, Card holder name, Zip code, Telephone number etc. The comprehensive negative database that has been built over the last 9 years from fraudulent transactions that has taken place in over 90% of India's Merchants, who uses the CCAvenue® Payment Gateway. This Risk Mitigation system helps identify fraudsters that have previously perpetrated fraud on any our other merchants. It acts as a warning system for High Risk transactions, so that you do not face any charge back related losses.

As you can see, by choosing CCAvenue PhonePay as your IVR solution you gain a safe and secure medium to sell your products and services via mobile phones or landlines without any hassles.