A critical element of the Managed Payment Services is our Fraud Suite of products. These important capabilities are included in our Transact Plus option so that our clients have full access to the power of our FBI Tools, Client Scoring and secure transaction Tokenization to provide the best cyber defense for their payment infrastructure.
FBI Tools is a rules-based engine that continually runs on every transaction to ensure that fraud is eliminated. This program is set-up so that it can be immediately decline or hold as pending each transaction based upon the rule threshold that was triggered. The dashboard provides a clear view into the systems performance and allows for updates from the merchant or from one of SparrowOne?s specialists.
How does assigning a score to a client?s purchase help with fraud? We believe that this powerful rules engine allows you to both highlight your best customers as well as set yourself up to eliminate buyers that are have a higher chance of chargebacks, a history of declined attempts or a combination of both. The simple example of being able to stop a repeated attempt to post a charge based upon the client name versus the card number used will stop a fraudster from trying numerous different cards, saving the company from a fraudulent purchase.
The ability to create a token for use in the place of credit card data is a powerful tool. The token can be used for all transaction types, even recurring billing. The elimination of circulating card data will significantly reduce the potential for a security breach that impacts your clients.
Let us know how we can help you fight fraud.
Let us know if you are interested in a complete payments assessment.