By Karisse Hendrick, Editor-at-Large, CardNotPresent.com
Deciding which fraud solution will best fit the needs of your company can be overwhelming. While options were fairly limited a decade ago, the need for different types of services has driven the creation of literally hundreds of different fraud service providers since then. Whether you are considering a main fraud case management system or service or a complimentary tool to add additional identity verification, device identification or machine learning capabilities, the decision is one that shouldn’t be taken lightly. Chances are this will be a relationship your company will continue to have for a long period of time, and the cost may be substantial. Recently, in one of the most popular panel discussions at this year’s CNP Expo in Orlando, Fla., Laura Park, sales operations specialist for Other World Computing (also known as MacSales.com), shared the method she uses to select the right tools for her business. Here, in more detail, Park explains the six steps she takes to evaluate and choose a fraud provider.
Step 1: Identify the
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