BRUSSELS | Ogone, a leading global online payment services specialist, has upgraded its on-line fraud protection package with the latest detection technology tools and launched a new product, Ogone Fraud Expert™. Merchants are being offered improved protection against online fraudsters which features the added benefit of helping those merchants increase their online payment revenues by reducing the rejection of legitimate transactions and the costs relating to automatic or manual checks.
Giving merchants the flexibility to set their own rules, according to their unique circumstances, Ogone is providing them with the ability to relax the automatic transaction blocking criteria, while, at the same time, benefiting from the reassurance of an ‘expert safety net’ of a second level of protection for any transaction identified as ‘’dubious’’. Ogone Fraud Expert™ comprises of: a set of over 20,000 control rules configured and maintained by Ogone’s specialist fraud experts, device fingerprinting for detecting suspect behaviour, a pooled knowledge database, industry specific templates and finally, the option of outsourcing on demand transaction reviews to a group of permanently available (24/7/365) fraud experts for investigation.
When fraud prevention impacts margins
As protection against online fraud, merchants have adopted an increasing number of solutions which help them to evaluate a transactions risk level by analysing certain criteria. However, most merchants, confronted by evermore inventive fraudsters, and utilising the burgeoning number of digital sales channels (e-commerce, m-commerce etc.), have tightened their blocking rules, which has led to a greater number of legitimate transactions being rejected. In many cases, this has resulted in a negative effect on their turnover. To make matters worse, the installation of anti-fraud systems requires dedicated teams, responsible for upgrading protection tools and filtering rules, investigating individually the transactions that have been flagged as suspect, and managing any possible disputes.
“All in all, most of our clients’ fraud prevention costs have increased, which means that their margins have been correspondingly hit. Ogone Fraud Expert™ has been developed in order to provide an answer to these issues by combining precise configuration of historical risk analysis assistance tools, new fraudster identification tools and the outsourcing of the checks to Ogone’s specialist consultants”, explained Filip Gosselé, Ogone’s Product Director.
Device fingerprinting plus over 20,000 evaluation rules
Fraud Expert enables merchants to relax their blocking rules, thereby reducing the automatic rejection of legitimate transactions and offers support for refining the configuration of their risk analysis criteria.
If there is any doubt about a transaction, a second, real-time level of control kicks in. First of all, the device fingerprinting tool, which recovers information from the user’s computer, whether desktop or laptop (browser used, screen resolution, etc.), in order to determine his or her “device fingerprinting” and to block transactions coming from dubious sources. In addition, an assessment of the risk level via a set of over 20,000 control rules, including certain sector-specific ones (travel, high tech, etc.), which are configured and maintained by Ogone fraud experts. Finally, merchants benefit from a pooled knowledge database (without exchanging any personal data, thereby complying with the legislation relating to privacy).
Ogone consultants’ expertise
Following the automatic checks, merchants can then decide whether or not to outsource the manual checking of dubious transactions to Ogone’s expert fraud consultants (available on a 24/7/365 basis), thus avoiding the need to set up in-house teams, operating outside working hours, for carrying out those checks themselves. “Whatever the recommendation, the final decision to accept or reject a transaction is a matter for the merchants, who remain firmly in control of their sales strategies”, Filip Gosselé concluded.
About Ogone Payment Services (www.ogone.com):
Ogone is a leading global online Payment Service Provider. More than 42,000 businesses in over 70 countries worldwide Ogone to manage, secure and collect their online and mobile payments, help prevent fraud and drive their business. Ogone’s scalable solution allows their customers to increase their checkout conversion and help them enhance sales, both domestic and cross-border.
Ogone is committed to providing new payment solutions as consumers adopt them. It is connected through certified links with more than 200 different banks and acquirers and so is able to provide over 80 international, local and alternative payment methods in Europe, Asia, Latin America, the United States and the Middle East.
Through its subsidiary Tunz.com, Ogone holds a certified European e-money license, offering ‘plug and play’ virtual wallets to their merchants without them having to open foreign accounts and sign contracts with third-parties.
Ogone is part of the Ingenico Group, a world leader in payment solutions offering all aspects of payment processing at the point of sale, both online and offline. Ogone is headquartered in Belgium and has regional offices in Belgium, the Netherlands, France, Germany, Austria, Switzerland, UK, UAE, the US and India.
Friends Provident, TUI, Thomas Cook, Halfords, Just Eat, Bose, Opodo, Club Med, DHL International, Viking Direct/Office Depot, Thalys International, Misco and Center Parcs are just some of the many major players that trust Ogone with their payments. For more information, please visit Ogone Payment Services website or follow @ogone.