Is your Customer who they say they are?
The most common form of Identity Theft involves the thief's acquisition of the full credit card information (including the 3 digit security code) and the card holder's billing address. Armed with this information, the thief is undetectable by many commonly used fraud prevention methods, including: AVS (Address Verification System); CVC (Card Verification Code) checks; and Verified by Visa.
Did you know that...
- The online retailer is 100% liable for accepted transactions that later turn out to be fraudulent.. Even if the bank and processors approve the transaction
- 5 to 7 online retailers typically suffer losses from a stolen credit card before it is turned off by the processing system
- each year, VISA, MasterCard, the issuing banks, and the card processors generate revenues of 500 million to 1 billion from chargeback fees paid by online retailers
A new fraud prevention tool is now available, and no one has it except for CardCops.
We call it Merchant Alarm.
Merchant Alarm is powered by the CardCops database of compromised credit card data. This data is gathered in real-time from the very same online .black markets. where tens of thousands of times a day, new banking information, credit card numbers, and even entire identities are traded. What makes Merchant Alarm so unique and effective is that CardCops typically captures this compromised data prior to being used to commit fraud. Comparatively, a bank or a processor is not aware of a compromise to a debit / credit card until either being notified by the card holder or until the card is used to commit fraud at a few online retailers. websites. Unfortunately, it.s those first few merchants who pay the price in the form of loss of product, loss of revenue, and chargeback fees.
Additionally, unlike ANY other fraud prevention tool on the market, Merchant Alarm continues to monitor the transaction after the initial transaction, enabling the Merchant to benefit from the latest inputs of compromised data.
Today's savvy online retailer utilizes an array of fraud prevention tools and Merchant Alarm is a critical component of an effective fraud prevention system. Merchant Alarm was specifically designed to complement & work seamlessly with all existing fraud prevention measures (including AVS, CVC, IP address lookup, and rules based algorithms), shopping carts, and processors.
Merchant Alarm is easy to install and use. All that Merchant Alarm requires is the credit card number used in the transaction. For extra security, all information between Merchant Alarm and the merchant is transmitted over SSL (Secure Socket Layer) and the data payload (credit card #) is encoded to SHA1 encryption. Utilizing a simple form post, the merchant sends the encrypted credit card number from the transaction to the Merchant Alarm system. Less than 2/10th.s of a second transpires between the time the data is sent and Merchant Alarm provides the merchant with a response back to its shopping cart, recurring billing system or script.
For further information about how Merchant Alarm can make your business more profitable, please email cardcops.merchant@CardCops.com.