Electronic commerce fraud management
Fraud on e-commerce website is an important issue. You should know that with no matter which payment provider you work with, the merchant is always 100% responsible, so you have to implement best practices and remain vigilant.
Prevention is always the best protection. Radar solution allows you to :
- Manage international sales;
- Filter the type of accepted cards;
- Block high-risk orders (determined by the constantly evolving Stripe learning machine)
- Limit the maximum amount for a transaction (a good option against thieves who try to buy a lot of expensive products)
3D Secure and transfert responsability
3D Secure protocol makes it possible to transfer the liability shift of the transaction to the bank rather than to the merchant. Often known by names like Visa Secure or Mastercard Identity Check, this authentication standard can significantly reduce fraud. The counterpart is a considerable drag on conversion. By combining Radar with 3D Secure 2, you are able to direct only suspicious users to 3D Secure and thus maintain the best possible conversion rate while protecting you from potential thieves.
Exceptions for some transactions
Radar can block transactions, but can also allow transactions that would ordinarily be rejected. For example, a customer is detected as B2B could make a payment well beyond the limit for B2C customers.
Radar is a very good solution to consider if the services or products you sell are subject to repeated fraud or when integration with custom rules needs to be done with your systems.