Fraud Management Services

Identity theft costs retailers and consumers billions of dollars a year. It 'important that companies implement the latest and best protection against fraud. The following is a list of frequently used tools to prevent fraud.

Address Verification Service

Address Verification Service (AVS) is a risk management tool for merchants to accept transactions where neither the card nor the cardholder are present, orwhen the card is present but its magnetic stripe can not be read by a terminal point of sale. Dealers make the request through their merchant processor AVS credit card directly to the credit card association to address the specific comparison. CardAssociation Credit then checks the cardholder's billing address at which the card issuer.

Safety inspection record

Card Security Reviewcollects the 3 – or 4-digit code on the credit card provided at the time of the Association for the purchase. processing of credit cards to make the request for verification of the card from the dealer directly to the specific loan. The card security value is then compared the files to the card issuer's value. testing programs are offered by major credit card associations and card will be announcedCVV2 (Visa), CVC2 (MasterCard), CID (American Express) and CID (Discover Card).

Credit Card Authentication

Both Visa and MasterCard issuers to offer authentication services, allows a property of the cardholder during an online purchase of control. With Verified by Visa (Verified by Visa) and MasterCard SecureCode, consumers are sure that with a debit card online is as safe as it through a local reseller. And traders are fully protected against chargebacks issueroperations that have been fully authenticated. Since the transaction is authenticated by the issuing bank, the merchant will be paid. Dealers no longer have the risk or the cost of fraud to wear. When a cardholder shops at a participating SecureCode VbV or a commercial site, the purchase process remains the same until the "Buy" button is selected. If the bank is registered with a participating card issuers, consumers are asked for their password or their issuers VbV specific SecureCodeAccess. This simple process of verification, the card issuing bank confirms the identity of a consumer in real time.

Transaction Scoring

This management solution combines the technology of predictive risk score with access to external databases, processing and rule-based expert on human understanding for merchants with a clear recommendation whether to accept, reject, or a transaction to this challenge. Dealers also have access to a web-based tool, with detailedto determine information about each transaction, its profitability.

Identity authentication

This service creates a virtual "paper" present "environment, in real-time authentication of the buyer's identity. Authentication of recognition by the detection of fraud by using proprietary databases, statistical analysis and government issued photo ID. Authentication of prevents potential criminals to steal a consumer's identity and discourage consumersbecause a purchase authorization after the denial of the transaction. In addition, selected services, a guarantee against losses due to fraud.

Age verification

Merchants can 'map' now visitors to their sites to authenticate the identity and age. age verification uses an international database to check their official identification, once online age and identity. It provides a fraud-screening tool, and meets legal compliance, as applicable.Dealers simply send the user information collected on the website for the immediate age or identity verification. Consumers can sign their name with an optional mouse and provides additional protection. Less than five seconds after customers submit their name, postcode and date of birth to determine age verification provider, the exact identity of the consumer, and set their signatures on the public register.

Card Brand Data Security

Visa CISP (Information holderSecurity Program) and MasterCard SDP (Site Data Protection) programs are initiatives of information security required by traders to ensure the card. Visa and MasterCard, with the other card brands, together have adopted common security requirements laid down by the Payment Card Industry Data Security Standard (PCI DSS).

In determining the finance company the right card for you, it is important to all companies that offer credit cards he has. Just as important as low in April or advanced security features is the credit card customer service company.

Because most consumers overlook customer service until it is too late, that we call the top five credit card companies (American Express, Bank of America, Chase, Citibank,and Discover), and classifies them to what extent the following customer service benchmarks are met:

Useful Web sites before we visited their sites to see how user friendly they were, and if the free phone numbers are easy to find.

The knowledge of the agents. We asked three advanced credit card questions (security features, 0% in April, the availability and characteristics of debt consolidation), then assessed their responses.

Availability of agents. Finally, we examined our generalSense of treatment valued customers, who went on an overall assessment of each customer service company.

American Express

TIME 800-number: Less than two minutes.

Availability of agents, if you came in, we talked for a professional and useful contacts. Even its automated voice system woman who greets you when you first launch is very concise and polite, as far as robot ladies go.

KNOWLEDGE of agents: customer serviceThe representatives spoke about their confidence in April to 0% cards for select customers as well as the low card in April and offers. The only unanswered question that the agent would want the characteristics of credit card debt consolidation. However, Amex has direct and accurate information for all other questions we asked.

General impression: the representative of the service was clear and not pushy (albeit mechanical), and let us know that someone is available to help more with their tollNumber 24 / 7

Bank of America

TIME 800-number: Less than two minutes.

Utility AGENTS: We called the main number and went to ten button-presses before being connected to a live human being (although certainly some of these pressures, they were out of confusion). Some of the steps were obsolete and frustrating – to respond as the choice of voice or the touch of a button. On one occasion, causing an ill-timed sneeze, we must return to the menu.Finally, when a shot "Bank On Call Specialist", it was clear that, although thorough, the gentleman at the other end to be friendly as some 'humor as we were by it.

That the account number of the agents: The question about the basic security features the card offered, he said, citing the Safe-Card "function that rep numbers randomly generated each time they know the card is used, instead of one of these can be stolen. "Wejokingly replied: "This must be a good feature if you are not good." He did not find this funny. Even after the words "It 'was one, laugh joke, give up even when the Bank On Call Specialist pity.

General impression: Operation of Los Angeles, Bank of America 800 number is not 24 / 7, as some others, but not to run late and on weekends. (Please note, however, that the information provided by the service representative in person, is now the Bank of America WebSite boasts 24 / 7 customer service representatives on call. We have not been invoked 23 times the effort to discover what it really is.)

Citibank

TIME 800-number: Less than a minute, quickly and easily.

AGENCIES utility: With a button, but release after the call, you are talking to a live operator. We spoke with a gentleman of good humor, as it responded to us on applying the "Transfer to general questions, laughed really in theAnswer: "Ok, Super-Duper" when we asked to be brief. (Customer service representatives who hate their jobs do not always give good company.) He put me in an agent, was in good spirits, and all evidence was genuine and friendly.

KNOWLEDGE agents: Immediately I was filled with topics such as bonus card rewards and credit cards with low APR e. Citibank seems to care to address issues such as stolen credit cards and with sensitivity,She assured me that "The specialists in identity theft" to manage potential issues one-on-one.

Overall impression: Citibank agents seem particularly user-friendly in times of crisis. In addition, the Citibank service hotline is available 24 hours.

Chase

TIME 800-number: Less than two minutes, a single click from the homepage. A little overwhelming were the various figures, the call-based arguments, but the list was explained and labeled.

Availability of staff:After a couple of menu selection and a reasonable amount of time outside, we were given by a professional (if a little 'dry) customer service. In addition, right-click the Web site information was that the cardholder, 24 / automated service representative by phone or live from 7:00-9: Open 00 clock.

KNOWLEDGE of the agents: the agent answered questions about 0% APR cards and generally low in April, promising only that "select customers" are eligible.

TOTALImpression: We left feeling that Chase said that as a "fit" for certain deals, as decided by The Cool Kids in high school, sitting together at lunch. (Just a feeling.) Exchange is professional and free of hype, unless otherwise monotonous and robotic.

Discover

TIME TO 800 number: It only took a moment to) find the phone number (in the style of the Chase website, minus the visual chaos.

AGENCIES utility: After callingthis 24 / 7 live operator (and automatic-optional) service number, it was only a few seconds before being connected. The customer service representative was the most gentle and not-in-a-fake-way of all credit card companies, has been tested.

KNOWLEDGE of the agents: the agent has answered all the questions with special features plus other important information (safety, costs, eligibility for special offers, etc.). In addition, many programs seem to far outweigh the competition:for example, 0% fraud liability on the spot, and with more-than-fair to the customer's simple mistakes or lapses.

General impression: both for the information and the way it was delivered, the taste left in our mouths, it was not all sweet and bitter sides.

Summary

We evaluated the top five credit card companies on customer service (American Express, Bank of America, Chase, Citibank and Discover), and here are our latest results.

# 5: Banca d 'America. Although the standard services, and a widespread name recognition and business, effective customer service may suffer at the hands of such an operation be enormous. It 'hard to find information on the site (or at least the information that agrees with their live operators), and the personal touch of assistance is gone. Maybe Bank of America outsourced their customer service operation. IT outsourcing to Mars.

# 4. Despite adequate Chase Chaseeach of these little features 'of problems that are frustrating customers: APR little information and how to apply the agreement, keeping time with the lousy music, a website bit' confusing, opaque and / or mechanical service interaction, opening hours and limited availability of people who live. are all attributes that prevent Chase offers excellent customer service. Not exactly a pain-in service system to the customer by the neck, Chase just average. Not bad bad, but notgreat.

# 3: Shipping. American American Express does the job. No frills, but a service in the round, with enough features to satisfy us in good standing. The representative made a recommendation paper for me some questions, and after further talks in a good analysis. American Express customer service skills are similar to the aesthetics of the card itself: not the brilliant golden color, but surely stillGold.

# 2. Citibank great customer service. It 'nice to report that it is almost a tie for first place as a tie for last place and always be proud to call a neighbor, in this case Citibank. Nice clear Web site directory, always one-touch access to a real person, and interactions with people who realize that they did not hate working for Citibank. real estate agent has characterized the bonus for customers of large, but not in a way that you feel under pressure. WonderfulCustomer service, maintenance, Citibank!

# 1: gas stations, Discover and complete and security services)) Did. Who it's worth it to discover that (credit rating? In addition to offering the most simple, practical performance (5% regular cash on purchases TM restaurants, etc., interactions with the people find they feel valued and respected. What is Whether or hospitality above and beyond professionalism, the general response was that we have to interact with Discoveris that we move to increase Discover which home, then our families and send our children to school there to do. In an interview with a company credit card customer service line rarely leaves so warm and safe.

We hope that our credit card customer service roundup is helpful, but as always, performance may vary. The best way to find out is to call themselves. Good luck to find the number of 800, but!