MyGate provides a Fraud Module with a suite of fraud detection and prevention services that can configured using transaction filters and internet protocol address tools. These fraud services can be configured to flag or stop a credit card transaction from occurring .
When a fraud occurrence is identified, the transaction is handled according to the fraud threshold you have configured. You can configure notification of these occurrences to alert you in real time. A Fraud Report is provided giving you an in depth understanding of why the transaction is potentially fraudulent as well as action steps that should be taken.
MyGate offers the 3D Secure service to all of its merchants.
MyGate’s payment platform is integrated to 3D Secure enabling transactions to be processed to both the MasterCard Secure Code & Verified by Visa 3D Secure schemes.
MyGate understands the risk of online fraud and offers a Fraud Module that merchants can configure to aid in the reduction of online credit card fraud. Using IP address locaters, BIN origins and shipping address’s, the Fraud Module helps merchants in identifying potential fraudulent transactions. Merchants can configure the Fraud Module to flag or fail transactions based on specific transactional behaviour.
Select Rules around:
- Shipping Address mismatch
- Free Email
- Geo Location
- Manage suspicious behaviour using Velocity Checks
- Territory Management
Card Security Code
The card security code (CSC) sometimes called Card Verification Value (CVV or CVV2), Card Verification Code (CVC or CVC2), or Card Code Verification (CCV) are different terms for security features for credit or debit card transactions, providing increased protection against credit card fraud.
As additional account security, every credit card comes with a special three- or four-digit code generally known as a CVV2 or CVV number. Cardholders will be requested to enter this when processing an online payment. An identity thief who has come across credit card information illegally will not have access to the CVV number if they do not have physical access of the card.
The Address Verification Service (AVS) is a risk management tool that enables merchants accepting card payments in a non-face-to-face environment (e.g. e-commerce, mail order and telephone order [MOTO) to verify the validity of the billing address provided by their customers by comparing it to the one on file with the card issuer. Using AVS helps card-not-present merchants minimize fraud and fraud-related chargebacks.
AVS requests are processed in real time or in batches and may be used with or without a transaction authorization request. Typically, the response is received within just a few seconds.