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Blog Against Fraud

PSPs: 5 Best Practices for Enterprise-Class Fraud Prevention

Posted on Thursday, February 16, 2017

Payment Service Providers (PSPs) like BlueSnap, Braintree, Chase Paymentech, GoECart, Magento, and X-Cart are offering portfolio-level fraud prevention as a baseline service to their merchants. This type of value-added offering is helping these issuers, acquirers, payment processors, payment gateways, eCommerce platforms, etc.:

  • Win new accounts and reduce churn
  • Minimize the financial and regulatory risks of onboarding and underwriting merchants

If you are a PSP exploring platform-wide fraud prevention as a strategy for overcoming the Top 7 Challenges Payment Service Providers Are Facing, it’s critical that you understand the best practices for enterprise-class fraud prevention in order to achieve maximum ROI:

  1. Sophisticated Screening and Analytics
  2. Real-Time Fraud and Risk Data
  3. Advanced AI and Machine Learning
  4. Expert Human Intelligence
  5. Portfolio Underwriting
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Topics: fraud prevention, payment service providers

Fraud and Plaque Prevention: Both Powered by AI

Posted on Thursday, February 2, 2017

Now that January is behind us, it’s time to look back at all of the forward looking predictions that promise futuristic tech innovations. (No disrespect, we are even guilty of this.)

There is no question that Artificial Intelligence (AI) is the darling of 2017 technology predictions hype—think: how people reacted to the entry of “Big Data” a few years ago. From an “AI toothbrush” unveiled at CES to poker to automated dermatology, AI is getting a lot of attention. Don’t believe us? A simple Google search will churn out 2,080,000,000 results in under one second. Receiving much less attention, however, are the very real technologies implementing AI in a constructive way.

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Topics: fraud prevention, artificial intelligence, machine learning

How “Available” is Your Fraud Prevention Software?

Posted on Friday, September 2, 2016

High software availability drives many initiatives related to product improvements and new releases. If a software company has high availability, they work towards an agreed level of uptime shown as a percentage over the course of a year. As an end user, we pay no attention to this until the software is down. We have all experienced that frustrating moment when unavailable software puts a wrench in our daily routine. Furthermore, when your fraud prevention software is down, it can cause a surge in fraudulent orders, a decline in sales, or poor performance of your internal processes. Have you wondered how much software downtime can cost your company?

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Topics: fraud prevention, unplanned downtime, high availability

Q&A with Mastercard: Fighting Fraud with Simplify Controls

Posted on Tuesday, July 26, 2016

We had the pleasure of interviewing one of our partners, Deborah Barta, Simplify Commerce Global Lead at Mastercard, who provided an insightful look into the company’s latest moves in the fight against fraud, including more details about their recent launch of Simplify Controls for small- and medium-sized businesses. Read on to find out more! 

Q) Tell us more about the new Mastercard Simplify Controls solution. 

A) Mastercard is committed to fighting fraud. That’s why we were thrilled to launch a fraud-prevention platform that allows businesses to easily control and monitor e-commerce transactions in real time. Simplify Controls, a new offering from Simplify Commerce by Mastercard, puts the power of enterprise-level fraud protection in a small- or medium-sized enterprise merchant’s pocket. Everywhere they go. Simplify Controls offers merchants a powerful web dashboard, an intuitive mobile app and smart alerts, so they can set rules and auto decline transactions based on their risk tolerance in advance of authorizing the card. Simplify Controls helps businesses maximize online sales by letting legitimate orders through and keeping fraudulent transactions out.

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Topics: fraud prevention, Simplify Controls, MasterCard

Summer Travel Fraud: Don’t Get Burned

Posted on Tuesday, July 12, 2016

Sunglasses? Check. Flip-flops? Check. Real-time fraud prevention technology? Not quite.

The summer vacation season is upon us and cyber security is likely to be the last thing on thousands of holidaymakers’ minds as they jet off to sunnier climes. Those in the travel industry, however, may be left red faced despite slathering on the sun block if they fail to secure themselves from fraud this summer.

The travel industry is a red-hot destination for cyber criminals. In fact, the figures are just as nauseating as a heavy bout of in-flight turbulence: Money lost to travel fraudsters soared in 2015, rising 425% and leapt from £2.2m in 2014 to a record-high £11.5m last year.

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Topics: fraud prevention, travel fraud, mobile channel

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