New Fraud Detection Systems Available
Web Commerce Today, Issue 39, October 15, 2000
New, sophisticated fraud detection systems are now available through the leading payment gateway services. You can read more about what this entails in a previous article, "Sophisticated Fraud Protection Systems," Issue 32, March 15, 2000. http://www.wilsonweb.com/wct3/fraud-systems.cfm
Such systems score the risk of each transaction, and exclude transactions based on the merchant's own setting of fraud tolerance. These systems also access huge databases that check the history of individual credit cards, providing merchants with much greater protection than just the processor alone.
|
Payment Gateway |
Fraud System Vendor |
Additional Monthly Cost |
|
VeriSign Payment Systems (formerly Signio) |
eFalcon, HNC Software |
No set-up fee. $39.95 monthly. 15 cents per transaction after the first 5,000 in a given month. |
|
CyberCash, FraudPatrol service |
eFalcon |
$99 set-up, $39 monthly plus 18 cent transaction fee. |
|
Authorize.net |
none yet, but will be getting eFalcon by end of 2000. |
Additional charge |
|
CyberSource |
CyberSource is the pioneer in online fraud detection with three years experience. |
Additional 24 cents per transaction. No set-up or monthly fee. |
