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Direct Debit Fraud Tools
Direct debit are both a very popular payment method and synonomous with fraud risk. GlobalCollect has developed a solution to screen these transactions for fraud and in 2007, Direct Debit Fraud tools were released. Several components are built into the Direct Debit Fraud tools including:
Direct Debit Fraud Prevention with Velocity Rules Velocity Rules will prevent fraud by setting a limit to the number of transactions from the same account, per day. The default limit is 3 transactions per account, per day, per merchant. Transactions that do not pass the Velocity Rule screen will be denied. Direct Debit Fraud Prevention with Blacklists Similar to blacklists for other payment methods, we will check account data against a blacklist maintained by GlobalCollect. With this check, any combination of the following will be screened (per merchant): MerchantID, AccountNumber, BankCode, BranchCode, and CheckDigit per country. Transactions that do not pass the Blacklist screen will be denied. Direct Debit Fraud Prevention with Refuse/Reject on multiple reversals This new feature will lower fraud risk by checking the number of reversals made by the same consumer within the preceding 90 days. The same customer is identified by a combination of MerchantID, AccountNumber, BankCode, BranchCode, and CheckDigit. Transactions will be denied if the number of reversals is larger than allowed and has a reversal reason of "customer reversed". Within this scenario, merchants may mark the transaction as challenged and still are able to process the payment. Transactions that do not pass this screen will be denied. And finally, transactions will be rejected if the number of reversals is larger than allowed and the reversal reason is "not customer reversed". This usually indicates invalid account information, etc. Availability Direct Debit Fraud tools are available in every country where GlobalCollect offfers direct debits. Brochure
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