This article will outline the tools available to best manage and prevent fraudulent transactions.
Enabling Advanced Fraud Protection in your Braintree Account.
Whilst there are no fraud prevention tools native within the Marketplace platform, you can opt to add additional fraud protection within your Braintree account. Your Braintree contact will be able to assist you in enabling this feature, and once actioned your CSM manager will configure "Enable Braintree advanced fraud protection?" under Site Configuration > Payment Methods > select the eCommerce Braintree URL. Please speak to your Customer Success Manager to enable this, and specify which of the three checkboxes you'd like enabled.
Enabling Braintree 3D Secure.
Braintree 3D Secure adds an additional layer of authentication during the checkout process, if necessary Braintree will verify the cardholders identity using several methods including an SMS one time passcode. To learn more please read this Braintree Support Article https://articles.braintreepayments.com/guides/fraud-tools/3d-secure?_ga=1.221597082.382230099.1579655803#processing, or reach out to your Braintree contact.
PLEASE NOTE: Braintree Version 2 must be enabled in your Braintree merchant account first, before it is configured on the Marketplacer platform.
Flagging Fraudulent Orders - Integration with Kount.
The Marketplacer platform has an integration with Kount (https://www.kount.com/), an advanced fraud protection platform. This integration is enabled within your Braintree Merchant account, and configured under Site Configuration > E-commerce Settings. Your Braintree contact will be able to provide more information on this feature, alternatively please have a look at this useful Braintree Support article https://articles.braintreepayments.com/guides/fraud-tools/advanced/overview.
Once enabled, you will need to create a Kount login and configure your rules. An example rule could be to flag any order where the billing/shipping address does not match the country in which the order transaction was made.
Any orders which are flagged, will appear in your Kount Dashboard under "Suspect Orders". They will not be automatically flagged within the platform, therefore checking Kount is recommend as a daily task for your operations team.
Failed Payments.
Within the platform you can view all failed payments under Admin > Orders > Failed Payments. This a great tool to review any orders which appear to be suspicious, such as orders which have multiple transaction attempts. To view this scroll to the right, to the column "Transaction ID link". Click on the ID hyperlink to view the Gateway response message, e.g Processor Declined - Possible Stolen Card or Insufficient Funds.
What to Look for on an Invoice?
- Does the name on the address match the email address?
- Has there been multiple payment attempts?
- Has there been multiple credit cards used in this transaction?
- Is the item high value?
- Is the item easy to resell i.e. electronic goods or lego.
Chargebacks.