Payment fraud takes place when fraudulent transactions are performed with a payment card. The attack may occur as a result of an account takeover, or through the use of a counterfeit card bearing the customer’s account number. Hackers are become increasingly sophisticated, as are their attack methods.
Effective fraud detection blocks breaches and prevents chargebacks. If you are active in various global markets, it is important to understand that a fraud detection level that is effective in one country may be ineffective in another. The best solution is to use an adjustable fraud screening tool, which enables you to create dynamic rules for each location. An advanced payments solution includes adjustable fraud screening tools and a dashboard featuring fraud screening performances at your various markets.