Card Not Present fraud is any transaction; online, by telephone and mail order, where the card and cardholder are not present and easily verified.
This is a well known but hard to detect fraud. Online buying is part of everyday life – credit card companies can no longer simply look at spending habits alone.
Face to face transactions are quickly giving way to the seemingly anonymous online, the online retailer is likely based out of the state, province or country, the location of spending has very low significance in detecting known good spending patterns.
Card not present fraud can be automated from a list of phished or guessed credit card numbers (one method is known as a BIN attack). It could be more targeted such as individual card skimming.
Card Not Present fraud can lead to excessive chargeback rates and reduced trust in your brand.
All credit card merchants and online retailers should have highly sophisticated early fraud detection in order to protect your customers and brand.
Detection at the point of sale is one layer of security, but what if you could detect malicious behaviour before the transaction has been submitted?
NuData Security uses Behaviour Piercing technology to determine the actual intent of a customer on your website. We monitor how users are interacting with all parts of your site and not just the checkout process. As a result we can provide insight into whether a transaction is likely a fraud attempt, or a legitimate purchase.
Integrating our NuDetect technology with unobtrusive countermeasures allows for a simple user experience, reduced fraud, chargebacks and manual intervention, before the transaction has been submitted.
Contact us to find out how we can help protect your customers.