The 3rd Man’s advice To Retailers
Implement a solution or solutions which will easily integrate with your existing structure and which can be integrated with any future strategic platform.
Monitor all transactions and take the view that all transactions are genuine unless high risk or suspicion cannot be eliminated, i.e. The 3rd Man to screen intensively to determine where the risk lies, then attempt to further validate each transaction.
Implement a solution which can benefit from using AVS and/or CV2 and/or 3D-Secure. Additionally any other new banking measures should also be capable of integration, as they become available. You need not choose these now, but keep your options open.
Importantly, in order to benefit fully from banking initiatives it is vital that decisions are made in a timely fashion and not rushed. Fraudsters are adept at appearing to be genuine... that is their job. Fraud prevention solutions must be expert at enabling the right decision to be made every time. Decisions based upon probability alone cannot effectively differentiate between fraudsters and high-spending genuine customers, hence a batch process such as our’s is essential.
The existing card payments and authorisation infrastructure was designed predominantly for use by cardholders who visited shops, and has been adapted to work for e-commerce and other CNP.
Careful consideration and imagination is required to see beyond what is currently on offer, in order to ensure that your customers are treated like customers whilst fraudsters are excluded. In the meantime retailers must take steps to ensure that they are protected from fraudsters. Do not wait until you receive the chargebacks.
The 3rd Man service satisfies all of the above criteria. The 3rd Man provides a purpose built service for CNP merchants. A growing number of retailers are recognising the benefits and signing up.
How to buy?
Call The 3rd Man on 01276 856444 or 0845 0945 654
Email: sales@the3rdman.co.uk