Online merchants become more at-risk for online fraud each year, making fraud detection and prevention a vital component of successful business.
The average number of successful fraudulent transactions grew 32.1% in 2015, with retailers reporting an average of 206 fraudulent transactions per month compared to 156 in 2014. Retailer’s prevention efforts simply aren’t keeping up with the growth in fraud.
What most merchants don’t know is that there are some powerful tools that come with most payment gateways. These tools can be used to gather information about an order to make an informed decision about whether or not to process the payment and ship an orders that may be potentially fraudulent.