Ensuring Secure Payment Processing In Ecommerce

𝗪𝗵𝗮𝘁 𝗜𝘀 𝗖𝗹𝗼𝘂𝗱 𝗧𝗼𝗸𝗲𝗻 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 (𝗖𝗧𝗙)? As payments expand, securing card-not-present (CNP) transactions across multiple devices is paramount. Visa's Cloud Token Framework (CTF) addresses this need by enhancing payment security and user experience. 𝗕𝘂𝗶𝗹𝘁 𝗼𝗻 𝗡𝗲𝘁𝘄𝗼𝗿𝗸 𝗧𝗼𝗸𝗲𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻 CTF builds upon Visa's existing network tokenization infrastructure. Network tokens replace PANs with tokens, reducing the risk of data breaches. CTF extends this by introducing: ▪️Device Binding → Associates a token with a specific device, ensuring that the token is only usable from that device. ▪️Cardholder Verification → Incorporates biometric or other verification methods to confirm the user's identity. This layered approach enhances security by ensuring that both the device and the user are authenticated. 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 🔹Reduced Fraud → Device binding and Strong Customer Authentication (SCA) significantly lower the risk of unauthorized transactions. 🔹Improved Customer Experience → Streamlines the checkout process by reducing the need for repeated authentication, leading to higher conversion rates. 🔹Enhanced Data Security → Minimizes the storage and transmission of sensitive card data, aligning with PCI DSS compliance requirements. 𝗔𝗰𝗵𝗶𝗲𝘃𝗶𝗻𝗴 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗦𝗵𝗶𝗳𝘁 ▪️CTF enables merchants to achieve liability shift by incorporating SCA directly into the transaction process. ▪️By combining device binding with cardholder verification such as biometrics, CTF satisfies SCA requirements, resulting in liability shift from the merchant to the issuer. 𝗔𝗱𝘃𝗮𝗻𝗰𝗶𝗻𝗴 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 🔹Multi-Device Security → Ensures consistent security across various devices, accommodating the modern consumer's shopping habits. 🔹Future-Proofing → Positions merchants to adapt to evolving security standards and consumer expectations. 🔹Trust Building → Enhances consumer confidence by providing a secure and seamless payment experience. 𝗨𝘀𝗲 𝗖𝗮𝘀𝗲: 𝗦𝗲𝗰𝘂𝗿𝗶𝗻𝗴 𝗛𝗶𝗴𝗵-𝗩𝗮𝗹𝘂𝗲 𝗧𝗿𝗮𝘃𝗲𝗹 𝗕𝗼𝗼𝗸𝗶𝗻𝗴𝘀 📌 A travel booking platform integrates CTF to safeguard large, CNP transactions: ▪️Device Binding → When a customer first books a trip using the app, a network token is provisioned and bound to the user’s device ▪️Cardholder Verification → For every booking above a certain value threshold, biometric auth is triggered, verifying the identity of the user. ▪️SCA Compliance → By combining these elements, the transaction satisfies SCA, enabling liability shift to the issuer ▪️Friction When It Matters → Users expect and accept a bit more friction for high value purchases, especially if it improves security and trust. Sources: Visa, Thales, Howard Xiao 🚨Follow Jason Heister for daily #Fintech and #Payments guides, technical breakdowns, and industry insights.

The white paper explores the increasing risks of e-commerce transactions and the need for robust fraud prevention in credit card processing. It highlights key risk assessment tools such as AI-powered fraud detection, velocity checking, device fingerprinting, geolocation analysis, and chargeback monitoring. Additionally, it discusses fraud prevention measures like 3D Secure 2.0, AVS and CVV verification, tokenization, fraud scoring, and blacklist management. The paper emphasizes the importance of a multi-layered security approach to combat evolving threats while balancing fraud prevention with customer experience. It concludes with insights into future trends, including blockchain-based identity verification and biometric authentication, to enhance digital transaction security. #altrupay #fraud #payments

Don’t let the fraud be the villain in your success story.... As fraud tactics are evolving and becoming more sophisticated, two major risks are posed for businesses: Revenue drain: Online fraud is projected to cost businesses $40 billion by 2027 (ClearSale). Trust erosion: 83% of consumers won’t return to an e-commerce after experiencing fraud (ClearSale). However, many businesses aren’t just combating these threats—they’re also facing the burden of costly integrations with anti-fraud engines and other security measures, resulting in high operational expenses to effectively mitigate risks. To protect both your business' reputation and profitability, leverage a payment orchestrator like DEUNA. With just one integration, access unique capabilities to.... PROTECT sensitive user data through tokenization technology, which replaces this information with tokens during transactions—keeping it shielded from potential attacks or data breaches. DEUNA complies with PCI DSS standards, ensuring robust security and data protection in every transaction. DETECT threats with fraud prevention engines, which you can enable in just a few clicks. These tools don’t just catch fraud before it strikes—they recognize patterns, anticipate emerging tactics, and keep your revenue and reputation safe. ROUTE different types of transactions to gateways with more advanced detection algorithms. For example, certain gateways provide a deeper understanding of customer behavior in specific markets or regions, to identify suspicious patterns with greater accuracy. VALIDATE suspicious transactions with extra layers of authentication (like 3D-Secure). This not only shields your business from potential threats but also prevents false positives—verifying the legitimacy of certain suspicious operations—and transfers the liability of any eventual fraud to the issuing bank, which absorbs the chargeback cost. Let me know if you have encountered these problems below...