>2Checkout.com – Merchant Account / Credit Card Processing Alternative » 2CO Uniting with Leading Online Retailers to Stamp Out Fraud

>This is an interesting concept in fraud detection. I’ve always wondered if there was a way to contribute our suspicious orders to a central database that other merchants can leverage. For a time, we used to have fraudsters use our shopping cart to test the validity of credit cards. We had to implement an IP velocity filter (order more than # of times in an hour and you get declined) to stop this type of fraud.

Below is an image I got off the Ethoca site that explains the process of how a community based fraud risk manager may work:

2Checkout.com – Merchant Account / Credit Card Processing Alternative » 2CO Uniting with Leading Online Retailers to Stamp Out Fraud: “2Checkout joined a global fraud-fighting community, powered by Ethoca – a leader in collaborative fraud management – to extend our fraud management services beyond our current system. Now, we have access to shared fraud data from a pool of online retailers designed to help augment our efforts in spotting and stopping fraudulent online behavior more efficiently, and guaranteeing less chargebacks related to fraud.”

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andreedelbrock

It’s always been a good idea to share experiences, and in a way, it’s just an extension of the way business was done on Main St. decades ago in small towns when everybody knew everybody. But commerce has moved beyond Main St., and with that the key to making collaboration work is achieving critical mass of participation to make it worthwhile for others to join. It is an interesting concept but now it’s moved beyond…and there is a way to contribute your suspicious orders to a central database that other merchants can leverage. And whether it’s velocity, data inconsistencies, or… Read more »