Keeping your shoppers and blocking the fraudsters at the same time. Integrated Fraud Prevention
iPayTotal's Advanced Detection & Mitigation Techniques for credit card fraud protection are a safeguard for your customers from the ever-growing credit card and data breaches around the globe. credit Card fraud cases have soared in the past six years, according to official figures from Financial Fraud Action UK. Our industry-leading Threat Management service minimizes your business risk, with one efficient global solution against emerging security breaches and attacks.
We provide advanced techniques to protect your business against credit card security threats. Our payment gateway includes real-time monitoring, proactive reporting, data analytics, breach alerts and machine learning. Our team is working 24/7 to neutralize risks while strengthening your defense against credit card fraud.
It understands the patterns in your spending and makes smart, split-second decisions that protect you from fraud. iPayTotal In addition, whatever you buy online or in-store, at home or around the world, your transaction is processed through our secure payment system. The service screens existing customer records to identify and prioritize potentially fraudulent activity and provides ultimate credit card fraud protection.
Billions of euros lost
In Europe, losses due to fraud reached approximately 1.8 billion EUR in year 2016. UK experienced highest losses, where in 2015 the total loss was 646 million EUR and in year 2016 that increased to 703 million. UK and France alone contribute almost 75% of all card fraud in Europe.
Based on data from Euromonitor International and UK Cards Association, the card fraud losses across 19 European countries show that CNP fraud (card not present) increased from 50% of all fraud losses in 2008, to 70% in 2016.
Card Verification Code
3-digit code printed on back of the card is one of the first security measures introduced with rise of fraud with online payments. Payment Card Industry (PCI) compliance standards do not allow merchants to store CVV codes, therefore in the event of card data being stolen these codes will not be obtained.
Verified by Visa, and Mastercard SecureCode, the same thing but called differently for marketing purposes. The process is known as 3D Secure and it involves a redirect to cardholder's issuing bank website during checkout, where a special password needs to be entered. This is usually a PIN generated by card reader, or a code sent by SMS.
Although pretty obvious, it is still an important tool to verify the card. Typically the credit card issuers set the expiry date of up to 3 years. If the transaction request, received online or via phone order, contains invalid month and/or year, the card issuer will not approve such transaction and it will not be processed successfully by the payment gateway.
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