An Overview of Moneris’ Online Fraud Protection Tools

March 27, 2018

Whether it be a single chargeback for a large purchase, or a stream of small-cost fraudulent purchases, the financial toll fraud takes on businesses can be significant. That’s why Moneris offers a range of online fraud protection tools for businesses of all sizes.

Small & Medium Business Fraud Protection

For small and medium sized businesses, online fraud awareness and prevention should be top of mind. The world of ecommerce is important for independent businesses to enter, but with it comes the risk of fraudulent transactions that can’t be identified as easily as in-store activity. To make sure that they’re protected, the Moneris Gateway offers tools and services for small and medium businesses to help safeguard their business.  

Real Time Cardholder Authentication

With Real Time Cardholder Authentication, Visa and Mastercard carrying customers are asked to authenticate their card through issuer services like Verified by Visa, or Mastercard SecureCode. These services require cardholders to create and use a unique password, and won’t process the transaction without this verification.  

Card Verification Value (CVV)

All credit cards are assigned a unique three or four digit code called a Card Verification Value (CVV). On Visa’s and Mastercard’s this number is on the back, and on American Express cards this number is on the front. By requiring customers to input their CVV when making an online payment, this helps to confirm that the card is physically in their possession.

Address Verification Service (AVS)

Address Verification Service, or AVS, asks that cardholders input their mailing and/or billing address linked to the card before the transaction is completed. This helps to verify information between merchants and card issuers, working to complete the transaction.

For Enterprise Fraud Protection

Moneris® Kount®†

Moneris Kount is a comprehensive online fraud protection program specifically designed for large enterprises. Moneris Kount strategically analyzes purchase data in real-time and provides a risk score based on hundreds of important variables. Transactions that pose a fraud risk can be either automatically declined or flagged for manual review by merchants, whereas safe transactions are approved, all happening in less than half a second.

In addition to the standard features Moneris Kount offers, the software is built to include customizable rules that adapt to the needs of your business. With this and predictive modeling, businesses will have an accurate prediction of their fraud risks.

Moneris® Verify®†

Powered by Appriss Retail, Moneris Verify is a real-time, data driven return authorization solution that can help retail business reduce return fraud. Using statistical modeling, the software is able to determine if the return is inconsistent with a retailers return policy, or mimics the patterns of return fraud. By scanning the customer’s receipt, and ID if necessary, Moneris Verify can analyze data and respond within milliseconds about whether or not the return is safe.

Protect Your Business Against Fraud

Whether you oversee a nation-wide corporation or an independent pop-up shop, fraud protection matters. With Moneris’ range of online fraud protection tools, you’ll have the protection and peace of mind you need to be payment ready, no matter how your customers want to pay. Learn more about fraud protection today by reading our Q&A with Moneris’ Chief Risk Officer Brian Prentice, or watching our Preventing Ecommerce Webinar!

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