First Data Looks at e-Commerce Fraud in Paper
Nov. 4, 2010
Atlanta-based payments processor First Data recently released a white paper that examines the unique challenges facing merchants that accept CNP transactions. Strategies for Reducing the Risk of eCommerce Fraud looks at the two facets of fraud management that are of primary importance to online retailers of all sizes: protecting against the theft of customer data and preventing unauthorized use of consumer data in fraudulent transactions. “In both cases,” according to the paper’s author Theresa Ward, e-commerce product manager at First Data, “there are tools and services available for even the smallest merchants to reduce the costs of defending against these threats—enabling retailers to pursue e-commerce revenue opportunities without assuming excessive fraud risks or employing time-consuming manual practices.” The paper suggests CNP merchants take advantage of automated transactional risk scoring, real-time categorizing and resolutions and post-purchase transaction management.