Real-Time Fraud Detect Overview
Sixty-two percent of companies were subjected to attempted or actual payment fraud in 20141. As the payment processing landscape continues to evolve, the opportunities for fraudulent activity will as well; with the expected rise in credit card use and the advance of mobile payment technology, it is predicted that the need for cyber security around payment processes will only increase.
Real-Time Fraud Detect software allows a merchant to anticipate and defend against fraudulent activity. Merchants can configure extensive filters to detect suspicious transactions before they’re approved, and additionally, are provided with enhanced reporting capabilities that give them access to all the information they need to root out fraudsters for good.
With Real-Time Fraud Detect, merchants will have the ability to:
Although most businesses could benefit from advanced security when accepting payments, some merchants are particularly prone to fraud:
Association for Financial Professionals, “Payments Fraud and Control Survey: Report of Survey Results,” chase.com, accessed September 2015. https://www.chase.com/content/dam/chasecom/en/commercial-bank/executive-connect/common/document/afp-payments-fraud-results.pdf