E-business Revenue Earnings Boosted After Credit Card Fraud Protection

Alexius Larpinuere is an owner of a Canadian e-business that specializes in selling gifts online

. The business shifts in high gear during Christmas, and other gift giving days. The company earns most of its revenue during these times, and loses a part of it to payment fraud.

The revenue loss because of credit card fraud had become a part & parcel of his business for a number of years now, and Alexius had begun to accept it since he was clueless on how to prevent it, this attitude had emboldened the people that targeted his website, and year after year the level of fraud increased.

Alexius was indifferent to the issue of fraud, because the business also had rapidly increased over the years. But the things however were different now, because the downturn has affected many enterprises and his business too was now in the midst of it, the issue of fraud was no longer a back burner any more.

Alexius was quick to realize that credit card fraud protection was his primary task now, and if something notable had to be done about it, he had to take that initiative rather than rely on payment gateways for credit card fraud prevention. The new beginning would start with hiring specialist that could render pre-screening of payment instruments before the payment gateways processed them, fraud at that stage was required to be prevented.

The objective was clear, and the task entrusted to a company that partners with merchant websites rendering fraud prevention services. The screening service used 600+ parameters to authenticate the genuineness of a credit card, and instantly generates an alert in case of fraud. The screening process takes very little time and without the customer being aware of it.

Alexius was able to benefit from the company's fraud prevention services, because it was targeted by a syndicated gang whose origins were located in Nigeria, the Geo location feature that the screening company used was able to identify the masked proxy and in the process the transactions that originated from that region were blocked and fraud prevented.

The screening company also used device identification tool that virtually fingerprints devices used for transactions and in time can generate an alert used by syndicated gangs for committing fraud on different merchant websites.

by: DANIAL

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