Gift Card Fraud

Fraud Shield: What It Is, and How It Protects You from Gift Card Fraud

Because we know how often online gift card sales are undermined by fraud, Card Market’s Fraud Shield can help protect your business from fraudulent transactions without requiring you to manually check every single suspicious transaction. Instead, Fraud Shield automatically blocks high-risk transactions or separates out questionable transactions based on several key pieces of information, such as a flagged email address, the transaction location, or mismatches on key identity data. Through this process, Fraud Shield helps protect merchants from:

  • Unexpected chargeback requests that can be extremely costly 
  • Fraudsters using stolen credit cards to purchase items, and then attempting to receive a return for the item on a gift card

Fraud Shield can help identify any suspicious credit cards used in the purchasing process and prevent criminals from creating and cashing in on gift cards. We do all this through an easy-to-navigate dashboard that lets you review flagged transactions easily and change your fraud settings to levels that best fit your business. Here are a few key ways that Fraud Shield provides customizable and responsive fraud detection through its easy-to-use software.

1. Fraud Shield Helps You Keep Track of the Bottom Line 

Unlike other fraud prevention tools that simply flag suspicious transactions, Fraud Shield provides analysis of one of the most important components of fraud detection: how much potential false transactions are costing you. On your Fraud Shield dashboard, you’ll be able to see a comprehensive breakdown of the financial implications of possible fraud. An easy-to-read pie chart gives you a visual overview of your transaction quality. You can also view your average transaction score for a sense of the rate of chargebacks for the last hundred orders.

2. Fraud Shield Settings Can Be Changed At Any Time 

As you start to use Card Market’s Fraud Shield more frequently, you’ll gain valuable insights into how fraud functions in your industry. As you gather new information about how Fraud Shield identifies fraud, you may want to change the parameters that result in flagged transactions. Luckily, that’s easy to do. Since you have full administrative privileges, you can easily make both small and substantive changes to your fraud detection system right from your Fraud Shield dashboard. 

3. Fraud Shield Allows You To Adjust Fraud Detection Thresholds 

For simple transaction review, Fraud Shield assigns a score from 0-100 that predicts the chance of a fraudulent transaction. A score of 100 indicates a probable fraudulent transaction, while a score of 0 is almost always a good transaction.This hundred-point scale is based on multiple customer data points including phone number, email address, IP address, and more. Fraud Shield users can adjust transaction strictness from 0-3 in order to increase or decrease the reputation lookback period. In addition to setting the Block Transaction score, a user can also set a score threshold to automatically hold transactions for review, and then decline or accept the payment manually.

4. Fraud Shield Simplifies The Transaction Review Process 

Approving or denying suspicious transactions with Fraud Shield is painless and straightforward, built to give you back the time you normally spend sifting through each individual transaction. Instead, all flagged transactions are presented through the fraud shield dashboard to be reviewed. Each transaction includes a quickview summary of why that particular transaction was flagged as well as what the fraud settings were when the transaction was flagged. A simple click of a button allows you to approve or deny the charge as you review it. 

Fraud Shield: Flexible, Powerful Fraud Protection

Through the power of Fraud Shield, Card Market can give you substantial savings in transactions. Our proactive tool lowers the possibility of fraud and gives you the power to tailor fraud screening to meet your needs, even if those needs change with time. Reach out to us today to learn more about how Fraud Shield can provide insight into your transactions and reduce the number of fraudulent transactions that plague your online gift card purchases.

Read a case study here.
Watch a video demo here.

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