Fraud

Credit card fraud costs the industry in excess of $10 billion per year worldwide.The largest area of fraud growth has been card-not-present transactions, which grew over 1000% between 1998 and 2005!  

GlobalCollect understands this security challenge with online payment processing and provides many fraud and security services that will help you to reduce fraud, safeguard your business, and reduce your internal costs.

Because eliminating fraud is top priority with GlobalCollect, we work closely together with top-notch specialist companies in order to reduce the chance of fraud to an absolute minimum.  In order to significantly reduce fraud and security concerns, GlobalCollect offers four basic enhancements :

• CVC Check (credit card only)
• Address Verification (credit card only)
• Delayed Settlement / Authorization Only (credit card only)
• Soft Descriptor (credit card only)

Fraud and Security Services

GlobalCollect offers customized fraud screening solutions through a variety of partners including:

Fraud Screening Service
The GlobalCollect Fraud Screening Service (FSS) has been designed for card-not-present transactions submitted via the WebCollect payment processing platform. With this fraud security service, your transactions are checked for fraud by a number of components directly via GlobalCollect’s platform in less than a second.

3-D Secure
Developed by Visa, 3-D Secure technology is offered under the "Verified by Visa" brand name. MasterCard also offers this standard, but under the "MasterCard SecureCode" label. This service is offered to cardholders as an additional layer of protection. It requires the purchaser to enter a secure password in order to confirm his/her identity, before the payment is approved.

PCI-DSS Compliance
Payment Card Industry (PCI) Data Security Standard (DSS) was developed in response to acquirers, merchants, and service providers' need for a standard, best practice to safeguarding sensitive data.

• GlobalCollect is a level 1 compliant company and has received PCI-DSS certification.
• Merchants using GlobalCollect’s online WebCollect with a Customer Link or with a Call Center Application connection (and do not handle card details themselves) will be automatically covered by GlobalCollect’s compliance.
• Merchants using WebCollect Merchant Link or handling card details themselves will need to undertake a separate PCI compliance procedure.