ePaymints fraud protection services
Data breaches remain a top concern for cardholders and businesses, but contactless and digital payments offer increased protection against fraud, using tokenization technology.
In fact, contactless cards have the lowest fraud rate of any type of card payment. This can help businesses mitigate the risk of potential data breaches, and the reputational and financial losses that may result.
There are many types of fraud that eCommerce businesses face. The most common form occurs when a criminal obtains stolen card information and uses it to complete unauthorized transactions without the legitimate account owner’s knowledge.
Once the transaction is complete and the payment is approved, the business remains responsible for ensuring the cardholder was who they said they were, in the event the legitimate cardholder disputes the transaction. This puts the task of preventing fraud on the merchant, and is why we emphasize implementing payment solutions that are as secure as possible.