How Can We Help You?
How does Faspay protect merchants against fraud and how does your fraud detection system?
Faspay provides fraud detection system.
Each merchant is assigned to a specific set of fraud detection rules. These rules may include checks on IP address location, transaction frequency, and size, etc. Every transaction needs to pass this set of rules and depending on the outcome, a transaction will be approved, denied or challenged. For all challenged transactions, the merchant can decide automatically or manually to accept or deny the transaction depending on the merchant's risk tolerance.
So are we safe from fraud?
While utilizing our fraud detection system will significantly reduce online fraud, unfortunately online fraud is a business risk that online merchants need to take (similar to bad account receivables). If merchant's are significantly adverse to fraud, we recommend merchants to implement more strict detection rules, which will provide more merchant protection from fraud loss, for example accepting only 3D Secure Cards.
What is 3D Secure?
3D Secure is an online service designed to make online shopping transactions safer by authenticating a cardholder's identity at the time of purchase. This service is known as Verified by Visa and MasterCard SecureCode. A transaction using Verified by Visa/SecureCode will redirect cardholders to the website of their card issuing bank. The cardholder may then be requested by their bank to enter a password to be authenticated.
Are you PCI-DSS Compliant?
Yes. In processing credit card transactions, our certified system as a PCI DSS Level 1 Service Provider to process your cardholder data securely based on a globally accepted international standard.