Fraud prevention and management
Nexway stops online fraud by providing you with the highest approval rates and the lowest false-positive rates in the industry.
To help protect your business against fraud, Nexway Monetize leverages artificial intelligence to detect and help prevent fraud. Each order submitted through the Nexway payment service is subject to fraud detection algorithms that screening and scoring process. During the screening process, orders are assigned points and if the points exceed a certain limit, the orders are flagged as being potentially fraudulent.
Scoring is based on several criteria, which include the following:
• If 3D Secure was activated or not
• The risk level of the product ordered
• Discrepancies between the geolocalization of the credit card used to place the order and the shopper’s (cardholder) IP address
• Countries of origin
• Velocity checks (the number of orders placed using the same IP address or the same email address within the last 7 days)
• Any other pattern brought by our machine learning algorithms
All orders flagged during the automated screening process are placed on hold. They are then reviewed by a team of highly trained and experienced reviewers within one hour of being flagged if flagged during office hours. After the order has been reviewed, it is either:
• Rejected and canceled
• Still questionable and remains in the fraud verification state for a maximum of six days. The shopper is notified by email of the fraud suspicion and asked to authenticate the order.
The order is canceled and refunded if there is no reply from the shopper within six days.
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