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Fraud Module
MyGate understands the risk of fraud and charge backs and has developed a Fraud Module that reduces credit card fraud for merchants. Simply activate the Fraud Module and configure the fraud products that best suit your needs. MyGate can notify you by SMS or email of potential fraud occurrences.
Global IP Recognition (GIR)
IGIR compares the purchaser's location to the global geographic location assigned to their IP address. If some one was purchasing on your website and their billing address is in the UK but there IP address is in Germany, it could be likely that the transaction is fraudulent. MyGate can flag or fail this transaction (depending on how you decide to configure) for further scrutiny.
Repeated Failure Identification (RFI)
RFI allows the merchant to set the amount of failed attempts a purchaser can make before they're flagged as potential fraud or blocked (depending on how you decide to configure) from making further attempts. If a purchaser makes too many purchase attempts without success, it may mean that they are not the cardholder and the transactions could be fraudulent. Such patterns (involving guessing card numbers, expiry dates, etc) are normally linked with stolen credit cards and are a common online fraud scheme. A purchaser is defined from IP address or credit card number.
Repeated Successful Identification (RSI)
RSI allows the merchant to set the amount of successful transactions a purchaser can make before they're flagged as potential fraud or blocked (depending on how you decide to configure) from making further transactions. If a purchaser makes very high volume of successful transactions within a short space of time, it may also mean that they are not the cardholder and are trying to use the card as much as possible. A purchaser is defined from IP address or credit card number.
Unique Client Index (UCI)
UCI forms a one-to-one relationship between a client and a credit card number. The merchant has the ability to provide MyGate with a unique-client-identifier (such as a customer ID) when processing a transaction. MyGate then stores the card number used by that client, and will flag or fail (depending on how you decide to configure) later transactions used by this client with a different card number. This insures that the credit card being used by the client is the card previously used for transacting.
Blacklisting
Blacklisting allows you to block purchase attempts on the payment gateway. You are able to blacklist potential fraudulent purchases which may be picked up from any one of MyGate's Fraud Detection Tools through one or more of the below:
- Blocking e-mail domains, i.e. any address at gmail.com
- Blocking specific credit card numbers
- Blocking specific e-mail addresses
- Blocking specific countries, cities or regions
- Blocking specific IP addresses