The minFraud service from MAXMIND aims to reduce or eliminate these risks and costs. It uses data points from over a billion transactions to create a risk score for any cards you’re processing. It can then combine that risk score with rules and thresholds you set so you can automatically decide whether to accept or […]
Some of the hidden costs of taking credit and debit card payments are fraud and chargebacks — areas where a card is used in a criminal way, or where a customer disputes a transaction. Left unchecked, these can be very expensive for retailers and merchants, with $8 billion in money lost to credit card fraud in 2016.