Our ecommerce fraud prevention tools utilise a number of methods to provide additional layers of security when transactions are made. With our advanced fraud screening tools, you can determine whether payments are genuine with checks such as two-factor authentication from 3D Secure, AVS (Address Verification Service) and CVV (Card Verification Value).
Fraud has a history of occurrence all around the world and is likely to continue to impact businesses in the future too. With fraudsters becoming increasingly sophisticated with their tactics, it is important for merchants to ensure that your best interests remain protected. Payment fraud can be incredibly damaging to businesses, with criminals resorting to using customer credit or debit data to purchase products and services both in person and face to face. There are infinite types of frauds that can occur at any time whether you are a small or large business.
We also offer a third party add-on service through ACI Fraud Management. This allows for merchants to incorporate a real-time fraud management solution that can help support authentic transactions and flag any fraudulent ones. Talk to the Opayo team today to learn more about our fraud prevention services.
How does ecommerce fraud prevention work?
Although instances of fraud may be uncommon for many businesses, it is undeniable that experiencing fraudulent activity can also be extremely damaging, and even fatal to some. Fraud can cause a significant impact on a number of businesses, whether you are a large corporation or a small store. Not only can financial loss be stressful, but fraud can also result in the loss of customer trust in your business.
Opayo offers an ecommerce fraud prevention tool; we understand that when processing any type of transaction, the merchant needs to be aware of the potential risks of fraud and what can be done to prevent it.
With Opayo fraud prevention tools, you can help significantly reduce the risk of fraud that your business is exposed to. Through your Opayo account, you can have access to:
AVS/CV2 (address and postcode verification)
Both ecommerce fraud prevention tools use your customer’s personal information to verify the card details used in the transaction. With these checks, merchants will be provided with additional information on all e-commerce, mail order and telephone orders to help reduce the risk of fraudulent transactions.
Previously known as Verified by Visa, American Express Safekey or MasterCard Secure Code, EMV 3D Secure is another form of fraud prevention tool available through Opayo. 3D Secure requires customers to provide additional information to complete the transaction process. The SCA (Strong Customer Authentication) mandate in the UK and Europe requires the use of 3D Secure for online card transactions, but it is used widely throughout the world elsewhere.
The current version of 3D Secure will continue to be supported until the of 2020 where 3DSv2 becomes mandatory worldwide. The deadline for ecommerce compliance is the 31 December 2020 in Europe and the 14 September 2021 in the UK respectively.
With 3D Secure version 2, merchants can benefit from “frictionless authentication”. This will widely improve the user experience while ensuring that transactions are made securely and with minimal risk to your business. Learn more about Strong Customer Authentication on our resources hub here.
Enhanced Fraud Screening
Opayo’s enhanced fraud screening platform monitors all your customer data in real time, spotting anomalies to enable you to outsmart risk, protect your customers and increase revenue.
All results provided by the Opayo enhanced fraud screening tool are advisory only to give you an indication of how likely it is that the transaction is legitimate or fraudulent. With that information you can then choose to let the transaction proceed as normal or to intervene and void (before midnight) or refund.
Each time a transaction is processed Opayo’s fraud screening tool checks a number of variables including customer details such as their name and email, billing and delivery addresses, as well as analysing data and patterns related to transactions and customer behaviour. The tool also compares transaction histories across similar businesses, within the same merchant category code, and similar shoppers.
Opayo’s fraud screening tool will take all of the information that has been captured and use this information to build a risk score that will be available to you in real time. Once the transaction information has been passed to Opayo’s fraud screening systems for analysis against a fraud and risk ruleset, a Risk score will be produced calculating the likelihood of the transaction being legitimate or fraudulent.
All transactions begin with a score of 0 when the transaction is first submitted to fraud screening for analysis. Each rule that is triggered increases the percentage risk of the transaction. Should the risk level exceed an acceptable threshold an advisory alert appears in MySagePay (MSP).
Once the risk score has been assigned, the score will then be available in the MSP portal and via our API . We provide the score as well as a summary of the rules the transaction triggered.
Opayo Enhanced Fraud Screening
Opayo fraud screening tools are an ideal way of helping protect your business against fraud and chargebacks. We can help you set up additional fraud prevention rules when you sign up with us.
Ideal for all businesses who accept payments online, our ecommerce fraud prevention tools can assist you with authenticating purchases and ensuring that your customers have a smooth, secure payment experience every time. Opayo advanced fraud screening tools include: AVS/CV2, 3D Secure, Additional Transaction Checks that include PAF (Postal Address File) checks.
Transaction checks that include PAF (Postal Address File) checks.
ACI Fraud Management
ACI Fraud Management is a third party real-time fraud management tool that allows merchants to monitor online and mobile transactions. ACI Fraud Management solutions can be tailored to your business’s specific needs and market of the customer to offer in-depth protection against fraudulent activity. Find out more here ACI Fraud Management or contact us for further information.
Benefits of Fraud Prevention with Opayo
There are many benefits to making use of ecommerce fraud prevention services. When trying to run a successful business online, being exposed to online fraud is a major financial risk that most people cannot afford to take.
With chargebacks collectively costing merchants billions yearly, it is certainly in your best interest to take preventative measures to ensure that the fraud doesn’t happen in the first place.
Why Choose Opayo?
Opayo is one of the UK’s most trusted payment service providers
Colm Brady - Managing Director
"When a customer hands their credit card over to us, we just want the payment to go through, we don't want to worry about it. Using Opayo's Token system allows us to do that"Read more
Maolosia Connell - Marketing Manager
"We have lots of international customers and with Opayo they have the option to use Dynamic Currency Conversion so that they can pay in their own currency"Read more
Tom Freeman - Solutions Manager
"It's safe to say that ROLLER is going to continue to innovate with Opayo to provide a software platform that will allow us to be market leaders in the leisure and entertainment sector globally"Read more