Monitoring online transactions

Enable PayGenius on Xero
3rd October 2019

Monitoring online transactions

The purpose of this manual is to guide you on how to mitigate any potential fraudulent transactions.

What is online fraud ?

Online fraud occurs when a fraudster approaches you and proposes a business transaction using fraudulent means such as a stolen or fake credit card to pay for it.

We should understand the below before commencing with your investigation:

  • Fraud cannot totally be eliminated but it can be mitigated up to 98%.
  • Only non 3D secure should be checked daily.
  • Use your senses when checking non 3D secure transactions.

1. HOW TO DO IT?

1.1 PayGenius Systems

After logging into your PayGenius portal, please click on the transactions tab on your left- hand side to access all transactions processed through your payment portal, to investigate potential fraudulent transactions.

Select the transactions date that need to be checked and select CSV to export the file. The checks must be done daily to avoid a backlog.

1.2. CSV file

These are the headings that need to be effectively checked:

Date / Time / Merchant / Consumer First Name / Consumer Surname / Consumer Email / Card as heading on your CSV file.

1.3. Fraud Check list

The guest must comply with at least 95% of the criteria below if his/her details look suspicious.

Steps on how to check

Filter only non 3D secure transactions:

  • Name mismatch: The cardholder’s name must match with consumer’s name.
  • Binlist: The Binlist must be used to check the origin’s country of the card and compare with what the client has provided. Take the first 6 digits of the card and insert it on the link below:
    Please see the Binlist link: https://binlist.net/
  • Client details: Compare the email address with the consumer names. Do further KYC investigation through Facebook/LinkedIn.
  • Address: Check on Google maps the consumer’s physical address.
  • If client booked through partners (E.g.: Booking.com), further investigation should be done as the email address is unknown.

Please note the “further investigation” we are talking about here is the fraud check list mentioned below.

Common Red Flag

  • Gmail or similar account with high payment amount
  • Multiple failed transactions then successful one
  • Same credit card with > 3 successful payments

If you face a fraudulent transaction you might be exposed to a chargeback.

2. WHAT IS A CHARGEBACK?

A chargeback is a demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction. It can lead to outstanding debt as the merchant has to reimburse the cardholder and the bank.

2.1. Chargeback request process:

  1. Client contests a transaction with his bank.
  2. PayGenius notifies the merchant of a dispute.
  3. Supported documents for service rendered from merchant to end client must be sent ASAP to PayGenius.
  4. A feedback is provided from banks on case.
  5. Final decision, there are two possibilities:

5.1. Contest is successful: the merchant gets debited amount + bank administration fee + exchange rate variation if applicable.
5.2. Contest is unsuccessful: the dispute is resolved, there are no consequences for the merchant.

NB: There are only 2 reasons that you will receive 3D secure transaction as chargeback:

  • The service was not rendered or the client was not happy with the service.
  • The client does not recognize the reference (PayGenius) attached to the transaction. As you should know, reference on client’s bank statement is PAYGENIUS:MERCHANT NAME.

2.2. Streamline your payment process

PayGenius enables you, as a merchant, to automate your payment process to get the end- client to complete payment on their end (using URL). The use of 3D secure helps efficiently fight against chargeback risk.

Also, PayGenius may add a disclaimer at the bottom of the payment page, as below:

3. WHAT HAPPENS WHEN A FRAUDULENT TRANSACTION IS DETECTED ON TIME

The merchant has the possibility to refund the transaction on the platform and request the end customer to pay by bank transfer or simply cancel the booking.

4. CONTACT US

If you have any query on the system, do not hesitate to contact our amazing support team:

Sales: sales@paygenius.co.za / 021 911 0498

Support: support@paygenius.co.za / 021 911 5611

Technical: tech@paygenius.co.za / 021 911 5611

Admin/Finances: accounts@paygenius.co.za / 021 201 6890

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