Credit Card Protection.
Credit card fraud protection is critical for businesses that take payments because it protects both their customers and their own financial interests. Companies can protect themselves from financial losses, reputational damage, and legal liabilities by putting in place strong fraud prevention systems. Companies can create a secure environment for their customers and build trust by remaining alert and proactive, which ultimately encourages loyalty and supports business success. At MG Merchant Services preventing fraud incidents is of utmost importance. Below are some of the ways we work with merchants to prevent fraud.
The Velocity Filters allows you to specify a threshold for the number of transactions allowed per day or the maximum number of transactions allowed from the same Internet protocol (IP) address per hour. All transactions exceeding the threshold in that day will be flagged and processed according to the filter action selected.
Suspicious Transaction Filter
The Suspicious Transaction Filter is a proprietary tool developed by our Risk Management team to identify suspicious transactions. Based on a vast knowledgebase of transaction behaviors and fraud detection analysis, the Suspicious Transaction Filter provides enhanced fraud detection for your account.
Enhanced Address Verification Service (AVS)
The Address Verification Service (AVS) is a tool designed by bankcard processors to assist in identifying potentially fraudulent credit card transactions. For every credit card authorization, AVS compares the billing address and ZIP code provided by the customer at the time of purchase, to the address and ZIP code on file at the card issuing bank. AVS then returns a response code indicating the results of the comparison.
IP-Shipping Address Mismatch Filter
The IP-Shipping Address Mismatch Filter compares the order’s originating IP Address with the shipping address provided. This helps to determine whether or not the order is shipping to the country in which it originated.
Shipping-Billing Mismatch Filter
This filter allows you to compare the shipping and billing addresses provided by the customer. If the two addresses do not match, the transaction is flagged and processed according to the filter action selected below.
Enhanced Card Code Verification (CCV)
Card Code Verification (CCV) compares the three- or four-digit card code submitted in a transaction with the card code on file at the card issuing bank. Based on the results of that comparison, the bank returns a CCV response code
The Amount Filter allows you to specify a lower limit and/or upper limit for your transactions. Transactions that are submitted with an amount less than your lower limit or greater than your upper limit will be flagged and processed according to the filter action selected below.
Shipping Address Verification Filter
The Shipping Address Verification Filter verifies that the shipping address received with an order is a valid postal address.
Regional IP Address Filter
The Regional IP Address Filter allows you to designate regions or countries from which you do not want to accept transactions. You can choose to process normally and report; hold for review; or decline orders based on an entire geographic area, or on a country-by-country basis.
IP Address Administration
These filters let you block specific customers’ IP addresses to prevent known sources of fraud. If you use our APIs, you may also specify which server IP addresses should be trusted by the payment gateway.
Credit Card Restriction Control
These filters let merchants temporarily lock cards that have declined 3 times and then permanently lock cards after a 4th attempt 24 hours after the first three. This helps reduce credit card fraud.