FraudSight: Optional Enhanced Credit Card Security with EBMS Koble Payments

What is FraudSight? 

Fraudsight is a tool from our processing partner that enables real-time machine-learning decisioning and risk scoring to every transaction, identifying fraud patterns such as bot velocity, device/IP reputation, repetitive BIN behavior, and automated attack cadence. 

Why should I use FraudSight? 

FraudSight provides real-time fraud screening on every transaction that protects against attacks resulting in fewer chargebacks related to fraud. By doing the analysis in real-time, FraudSight can detect and decline more fraudulent transactions before they are even authorized by the card networks, saving you on transaction fees and reducing the risk of the card network locking the account, all while allowing legitimate transactions to continue, even during the fraud attack. 

Is fraud really that big of a deal? 

Yes! Fraud is happening at higher and higher rates each year, and it’s not just the “big guys” getting attacked either. Smaller merchants often have fewer protections in place, so attackers have shifted their attacks to small businesses to have greater success. 

• 75% of merchants globally have reported an increase in payment fraud over the past 12 months, a 6% year-over-year increase 

• 12% Year-over-Year. Increased in card testing fraud 

• 79% of attacks are malware-free (meaning anti-virus protections on your website can’t detect or prevent the fraud from happening) 

Each chargeback, each instance of card testing, each time you are attacked by fraud attempts, costs you money in the form of transaction fees, chargeback fees, and can cause you to lose even more if you shipped before the chargeback was submitted, as now you’re out both the money and the product, and in extreme cases can cause the card networks to lock or close your merchant account, meaning you can’t process any transactions.