Fraud Monitoring

The iVeri Payment Gateway has a sophisticated 3 level fraud monitoring and notification system. The system is designed to work with a range of files that are generated from other 3rd party systems.

Merchant Transaction Profiler
Built into the iVeri Gateway is a Merchant Transaction Profiler. The purpose of this system is to profile a merchant’s characteristic trading pattern and alert the acquirer should the merchant trade significantly outside of their Transaction Profile. The system raises what is known as “Transgressions against that merchant profile and should there be a significant amount of transgressions raised, an email alert will be sent to a fraud officer who should then investigate further and take appropriate action. It is important to note that the iVeri Merchant Transaction Profiler (iMTP) is focused on finding anomalies that indicate that there may be fraudulent activity being perpetrated by the MERCHANT. This is distinctly different to fraudulent activity being perpetrated by a CARDHOLDER.

Master Negative File
iVeri is able to test each transaction against a 3rd party negative file. The transactions are then managed depending on the result received from the negative file.

Private Negative File
Each merchant can create their own private negative file that will prevent specific card numbers from being accepted but only at the merchant in question.