Fraud Prevention Tools Available for Merchants
At Opayo, we offer a variety of tools to merchants, some of which are totally free and others that come as an additional upgrade. With our fraud prevention solutions, merchants can benefit from multiple layers of security from the moment transactions are made.
Opayo advanced fraud screening tools can help you determine whether payments are genuine through free services such as two-factor authentication from 3D Secure, CVV (Card Verification Value) and AVS (Address Verification Value). By correctly setting up your additional fraud prevention rules on MyOpayo, suspicious activity may be appropriately monitored and the risk of chargebacks and fraud significantly reduced.
Alternatively, we also offer bespoke fraud protection from ACI Fraud Management, an advanced solution that works alongside the Opayo system to provide a more specialist prevention service.
Take a look below for further information on the fraud protection tools that are available to your business.
My Sage Pay rulebase settings with SCA and AVS / CVV checks
With our free fraud checking tools, merchants can drastically reduce the risk of fraud by being able to dynamically control whether a transaction is authorised or rejected.
The MSP rulebase settings allow merchants to create bandings for transaction amount values, enabling you to determine whether you’d like to authorise or reject a transaction based on the results of 3D Secure authentication coupled with an Address Verification Service (AVS) and the Card Verification Value (CVV or CV2 or CVC) and based on the amount value. You may have less of a risk appetite for high transaction amounts compared to low transaction amounts.
Merchants can also use 3D Secure authentication as your pre-authorisation fraud check. If authentication fails, then the transaction can be rejected. Opayo also allows you to even request to challenge the cardholder to undertake SCA so they have to prove they are the owner of the card. You may want to do this if you find there is suspicious account activity on your site (passwords constantly changing, different cards being added / removed in a short space of time).
Use the AVS / CVV checks as your post authorisation fraud check. If the cardholders address or security code (last 3 digits on the back of the card) fail the card issuers checks, then you can reject the transaction.
You can also use our enhanced fraud screening tool as a free post authorisation fraud check to be provided with a fraud risk score to act upon.
Enhanced fraud screening built in as standard
This free fraud prevention solution offered by Opayo aims to reduce the costs of fraud to businesses, whilst making sure that genuine customers are not frustrated by the checking process. Each transaction is screened individually.
The fraud rating, along with the rules that have been used to trigger the fraud score will appear in the merchant’s My Sage Pay account along with the fraud score itself.
These results are then displayed within your My Sage Pay account. After our enhanced fraud screening tool has reviewed each payment, merchants will be given a numerical score alongside one of three available ratings. These include:
OK – Low Risk
HOLD – Medium Risk
REJECT – High Risk
ACI Fraud Management
ACI Fraud Management uses highly sophisticated technology to create a multi-layered fraud prevention solution that can be completely adapted to the needs of each business. ACI Fraud Management works alongside the Opayo system to identify and prevent payment fraud through either Intermediate or Bespoke account options.
With the Intermediate account, you can expect the activation of predetermined rules that will be specific to each type of business or sector. This option will allow any transactions processed through the account to run against these predetermined rules to then identify whether the payment will be Accepted, Challenged or Denied.
Through your Bespoke account, you will have access to next-level features that enable businesses to work alongside ACI Fraud Management. You can define your own fraud screening parameters and rules that will review all payments processed through the account.
Depending on your business requirements, merchants can tailor fraud strategies and rules in real time to match each product, channel and geography. You can benefit from access to global fraud intelligence that will be delivered through real-time information exchange.
Additionally, each business that opts to use ACI Fraud Management will also gain access to your own administrative platform directly from ACI Fraud Management. Through this, you will be able to review, manage and amend transactions that have been processed through your account. For further information on ACI Fraud Management and how to understand the process, take a look at our article.