Four ways Moneris protects your online store

November 26, 2014 Moneris

Customers and merchants alike are concerned about the security of online payments. Protect your business and boost shoppers’ confidence with advanced fraud prevention tools.

Business owners who accept online payments have more than enough reasons to take action against payment fraud. Reducingchargeback fees is a big one, but improving security also shows customers that you’re serious about protecting their personal information. In fact, over half of shoppers who never buy online say they’re worried about the security of their personal data1.

For peace of mind, Moneris’ suite of Online Fraud Tools protects businesses and consumers with a layered approach to fraud prevention. They also save you and your staff the time and effort of manually reviewing orders for possible incidents of fraud. The tools include:

  • Real-time Cardholder Authentication: When a customer uses Visa® or MasterCard®, the credit-card companies verify their identity, in real time, with a unique personal code during the transaction.
  • Address Verification Service (AVS): When selling goods and services online, merchants can check the cardholder’s billing address with the issuing bank. This reduces not just online fraud, but shipping errors, too.
  • Card Verification Digits (CVD): Found on the back of Visa® and MasterCard® and the front of American Express® credit cards, these codes are less likely to be stolen than the main card number. Requiring them for online purchases helps ensure that customers are actually in possession of the cards they're using.
  • Transaction Risk Management Tool (TRMT): Advanced technology that helps identify potentially fraudulent transactions, in real time. The tool looks for warning signs to predict risk, helping merchants decide whether to proceed with the transaction or not.

You can maximize your online protection by mixing and matching these tools to fit your company’s security needs – and keep your customers safe and happy.

For more information, email us at insights@moneris.com.

 

1 A Canadian perspective on PwC’s Global Total Retail Survey: http://www.pwc.com/ca/en/retail-consumer/publications/pwc-total-retail-canadian-customer-expectations-business-model-2014-02-en.pdf, 2014 

® MONERIS, MONERIS & Design, and MONERIS SOLUTIONS & Design are registered trade-marks of Moneris Solutions Corporation (Moneris). VISA is a registered trade-mark of Visa International. MASTERCARD is a registered trade-mark of MasterCard International Incorporated. AMERICAN EXPRESS is a registered trade-mark of American Express Company. All other marks or registered trade-marks are the property of their respective owners.

About the Author

Moneris

Moneris processes more than 3 billion credit and debit card transactions a year, for over 350,000 merchant locations across North America. We have over 1,300 dedicated employees who understand transaction processing and know how to make it work for you.

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