We take the security of all transaction data very seriously, which is why Truevo has exceeded all industry-standard security practices to provide a safe payment environment for everyone involved.
- Be aware of suspicious situations such as gibberish customer details, incorrect card security code, mismatching between billing and shipping addresses, request to rush shipment or deliver the item to a different address or PO boxes, multiple purchases made within seconds or minutes from each other.
- Use a clear billing descriptor that helps cardholders recognise their purchase in their card statement.
- Provide good customer service by contacting customers as soon as they report issues and/or express dissatisfaction with the purchased product or service. Trying to solve their issues and processing refunds in a timely manner can prevent customers from filing chargebacks.
- Ensure cancellation and refund policies are clear and easy to find.
- Double-check customer and shipping information before shipping out items with high resale value and request signature confirmation on delivery. Items in high demand are very appealing to fraudsters.
- If suspecting a transaction is being made fraudulently, verify the customer’s identity by requesting ID documents or checking their online presence or testing their contact details (e.g. call or send an email). For card-present transactions, check if the cardholder’s signature matches to the one on the back of the card.
- Train staff members on how to deal with both card-present and card-not-present transactions, how to identify red flags, detect suspicious transactions and act accordingly.
- Keep accurate records of customers’ transactions and authorisation information like receipts. Supporting documentation can help when fighting against friendly fraud.
- Maintain a blacklist to keep track of customer and transaction details, names, email addresses, IPs, card numbers, delivery addresses, phone numbers that are associated with fraudulent activity and chargebacks. Identify suspicious patterns/behaviours and reject orders where shopper information matches to these records.
- Implement fraud rules and velocity checks to limit the number of transactions that can be made within a certain period.
- Enable cardholder authentication security measures like Mastercard Secure Code and Verified by Visa.
Truevo will never ask you for your password. It should always remain private. If we need to verify your account, we will ask you do to so using other means of authentication.
Merchants can encounter two possible fraud scenarios:
- “Friendly fraud” where customers dispute a payment on their card after having received the purchased product/service. The claim can be (i) “genuine” if the customer really did not recognise the charge in their card statement or believe the item was defective, damaged or not as described or (ii) “deliberate” if the customer is unfairly trying to get the item for free or driven by a sense of remorse.
- “Criminal fraud” where someone other than the legitimate cardholder makes an authorised purchase by means of i) lost or stolen cards or ii) account takeover (ATO fraud) that is gaining access to a user account with stored card information and make purchases through the compromised/hacked account.
Cardholders indeed can be victims of various types of fraud:
- identity theft when personal information and sensitive data are stolen;
- card fraud when cards are stolen or card details are fraudulently obtained from the card and used to make transactions;
- scams and phishing emails/calls;
- account takeover;
- deceptive, unfair, misleading, or false business practices.
In a face-to-face environment, where the card is swiped in person, the associated risk is lower since the merchant can physically check the card and notice any suspicious customer behaviour/red flags including:
- expired cards;
- declined transactions;
- hesitant, nervous or hurried customers;
- cards not signed or signed in felt-tip pen rather than in ballpoint pen;
- continuous interruptions from the customer to distract the merchant during the transaction processing;
- use of contactless cards to make multiple low-value purchases within a short period of time that could have been paid in one go;
- bulk purchases.
3D Secure is a payment authentication standard for internet purchases which adds an extra layer of security when purchasing goods or services online with participating retailers.
You will find the 3D Secure service when purchasing from online stores who also participate in the 3D Secure programme.
Once you have selected the items you wish to purchase, you will be directed to pay for your purchases. If you decide to pay by means of a credit card, a message will appear on screen requesting you to enter your one-time pin. This pin will be sent to you by SMS on the mobile phone number that you have registered with Truevo.
You have a set amount of time and a number of attempts to enter the pin correctly. If you do not enter the pin correctly, you will be unable to complete your online purchase. Once the transaction is authenticated, your purchase is complete.
This ensures that only you can make online payments using your card. Truevo will send you a new passcode by SMS each time you make an online purchase at a participating merchant, so you do not have to remember yet another passcode.
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The Truevo Support Team is at your service 365 days a year from 8am – 8pm CET/CEST.