Payment transaction monitoring can be used to detect and flag potentially fraudulent or risky transactions based on different indicators, such as:
- Location. For example, multiple purchases made with one credit card from different countries over a short period of time.
- Sequence. For example, a series of transactions below a certain threshold or multiple-purchases of high-value items followed by quick returns.
- Destination. For example, a large sum of money transferred to a high-risk country.
- Amount. For example, purchases or cash withdrawals that exceed a certain amount.
Create rules to detect payment processing errors and correct your payment processing system failures and initiate refunds. Timely identify such issues as:
- Incorrect transaction amounts.
- Duplicate charges.
- Late presentments and many more.
Prevent unauthorized access to your users’ accounts and other fraudulent activities by identifying suspicious behavior, such as:
- Logins from unusual devices and locations.
- Frequent changes of the account information or shipping address.
- Multiple failed login attempts within a short period of time.
- Creation of multiple accounts from one IP address.
Protect your users and your revenue by taking additional measures to ensure compliance with regulators’ requirements and maximize safety and security:
Updated 5 days ago