Blog | Industry Insights
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Preventing and Fighting CNP Fraud
In addition to the obvious threat to revenue, CNP fraud also poses a risk to brand reputation. The threat of online fraud continues to be of great concern to consumers, with a recent Associated Press poll showing 58 percent have “deep concerns” about their personal data in online transactions. In response, merchants have banded together…
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Finding a fraud prevention method that works
The increased risks of omnichannel commerce require attention to great care from merchants. Finding the right combination of fraud prevention and protection without turning away sales or impacting customers is a balancing act that takes time and fine-tuning. When you finally find the right balance in your fraud prevention methods, Frank Stornello, Chief Marketing and Strategy Officer at Verifi,…
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0.00% is probably not your best chargeback ratio
Many merchants rush to overprotect their payments process, turning away good sales in the process. Overprotecting payments can cost more money in lost revenue than the fraud it intended to prevent. When implementing new layers of security, it is imperative that merchants understand the fine line between TOO MUCH and NOT ENOUGH security. Merchants should…
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Evaluate Tokenization and E2E | Secure cardholder data throughout the entire transaction lifecycle
E2E and Tokenization are often coined as an either/or solution but this is not always the case. Tokenization replaces the sensitive card data information with unique symbols so that hackers have nothing to steal. Encryption masks data with complex algorithms that are difficult to protect. Both solutions have a key role when it comes to…
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EMV is Coming | How EMV will impact your CNP fraud rates
Card-Not-Present transactions are expected to account for 25% of all card based transactions by 2018. Merchants have little time to prepare, especially since card-not-present CNP fraud will increase after EMV adoption in the USA. Realize that while business will grow, so will the potential for fraud. Fraudsters will become more sophisticated, too, creating a complicated…
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CNP Fraud Trends
Protecting your payments is getting harder As fraudsters keep getting more innovative, protecting your payments gets harder. The dark web is now a real marketplace, where credit card information and personal identity have predictable cost ranges and are readily available. This was where breached data from large retailers was bought and sold. According to FICO,…
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Understanding Biometrics in Card-Not-Present Transactions
Many Card Not Present (“CNP”) merchants want to better understand biometric authentication and the impact it will have on their business. In most cases, cost is no longer a barrier and the technology has become increasingly accessible, making adoption a real possibility for merchants looking to fortify security. What’s more, consumers are on increasingly on…
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6 Ways to Fight Chargebacks and Boost Profits
To improve your bottom-line results you need to implement a holistic chargeback management solution to fight chargebacks, and also actively reclaim dollars lost to fraudulent chargebacks. Verifi, a leader in chargeback prevention and recovery since 2005, recommends 6 best practices for fighting chargebacks and improving the chargeback dispute process 1. Improve Internal Chargeback Processes To fight chargebacks,…
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Bridging the Gap – Leveraging Consumer Data to Prevent Fraud
As technology continues to advance, online criminal activity is maintaining pace. Fraudsters become more proficient every day, every time a loophole is closed, it seems a new one opens. Consideration must be given to all channels equally. According to Jeff Sawitke, Chief Product Officer for Verifi, the best way to prevent fraud is to put…
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Can Software Make Payments More Secure?
Mobile phones are more than another payment and shopping option according to an article in PYMNTS.com. Mobile phones can also make payments more secure. Their geolocation allows for position-based fraud analytics. Their cameras are used by Alibaba to ensure buyers are themselves with “selfie-validation” and Uber requires new users to take pictures of a card…
