The payments landscape is constantly evolving, and Checkout.com continues to monitor challenges in the payments threat landscape. With online transaction volumes increasing, this has resulted in an increase in the number of card testing, brute force and BIN attacks.
We would like to remind you of best practice to help prevent these attacks, and update you on the new Visa security update in Australia and New Zealand.
1. Make sure your business is aware of the risks associated with accepting payments online
2. Have incident response plans evaluated and in place ready to use should you need them
3. Implement the following fraud prevention tactics:
Visa is introducing new requirements for ecommerce payment providers to invest in capabilities to identify and prevent attacks. Whilst this requirement is being introduced in Australia on October 15, 2022, and New Zealand on October 14, 2023, it is good practice for all merchants globally to do this now.
Our fraud and risk management solution lets you control the type of payments you accept and reduce the risk of fraud. This includes pre-configured setup and block list, pre-set fraud rules and Machine Learning (ML) with fixed thresholds to decline, approve, or send transactions for 3D Secure authentication.
The tool lets you make minor edits to some pre-set rules and add further rules from a pre-set list. You can test these changes before implementation using our shadow-mode testing feature and access a full suite of analytics and reports within the tool.
Speak to your Customer Success Manager if you’re interested in learning more about our Pro solution – designed for fraud teams that want more control over their risk setup. Pro unlocks additional functionality to give you more advanced risk tools and the ability to fully customize your strategy: