Fraud Prevention Features

Online credit card fraud has grown as rapidly as e-commerce and when it happens, e-merchants must foot the bill. With in-person credit card transactions, the issuing bank takes care of the loss; however, on the Internet, card association payment rules make merchants 100% liable for all fraudulent transactions. In addition, merchants are responsible for shipping charges, bank chargeback fees and other costs associated with bad transactions. In fact, merchants with excessive chargebacks can even lose the right to accept credit cards - a risk no merchant can afford to take.

Since payment responsibility lies with the merchants, many emphasize caution, instead of commerce, which means fewer transactions and thus, fewer sales. eFalcon was designed specifically to meet the unique demands of e-merchants. It effectively manages the risk of fraud while ensuring smooth transactions for legitimate customers. With eFalcon, merchants minimize risk while maximizing profits.

Accurate Fraud Detection

Don't get taken. Our provider features eFalcon, the highest level of fraud detection available today. By utilizing a powerful combination of patented profiling technology, neural networks and rules, eFalcon can accurately uncover fraud patterns in real-time.

Presently, eFalcon is used by 9 of the top 10 Visa and MasterCard credit card issuers in the U.S. It's also used by 16 of the 25 largest credit card issuers worldwide. Based on HNC's patented Falcon technology, which saved credit card issuers $300 million in 1998 alone, eFalcon is the most comprehensive Internet credit card fraud detection and risk-management solution available to online merchants and service providers today.

Advanced Neural Networks

Unlike simple rule-based systems, eFalcon's neural networks analyze millions of transactions in real-time to determine both the linear and nonlinear relationships between them. By doing this, eFalcon is able to recognize the most subtle patterns associated with fraud often missed by less advanced methods of fraud detection. Using these different patterns, eFalcon is able to assign each transaction a score of 1-999, in milliseconds. The higher the score, the more likely a transaction is fraudulent.

Internet Fraud Control Consortium

Neural Networks are data driven, so successful predictions rely on accurate and comprehensive data. Unlike other fraud detection systems, eFalcon pools detailed information from online merchants into an Internet Fraud Control Consortium. Because fraud is dynamic, accurate fraud detection must be too. That is why everything from types to prices of products is used to instantly update and enhance the scoring models.

By combining advanced predictive modeling and score technology with merchant-tailored risk-management policies, eFalcon maximizes the number of transactions that lead to sales, while minimizing impact on the customer.

Policy Management Workstation

Business models differ, and so must risk management solutions. Upon account activation, our provider defines threshold levels to accept, reject or seek additional information based on your business needs. Using these merchant determined levels, our provider executes one of the following actions:

• Accept order
• Reject order
• Outsort order
• Display web page
• Add transaction to negative files for future use

Flexible Customer Service Tools

Customer satisfaction is the most important component of e-commerce success. One bad experience can cause a customer to take his/her business elsewhere. Unfortunately, most credit card fraud detection softwares don't take the impact on the legitimate consumer into consideration. Therefore, instead of simply sending away e-fraudsters, they send away valuable customers as well. eFalcon helps save valid orders identified as high-risk by turning them into firm purchases.

Order Management Workstation

High-dollar orders in the "gray zone" between clear acceptance and rejection levels are sent to our customer support center when human intervention is considered most appropriate. When an order requires additional verification, our provider's customer service representatives are automatically alerted. Meanwhile, a browser page notifies the shopper that a representative will be contacting them momentarily for order verification.

PCI Compliance Reporting

PCI (Payment Card Industry) Compliance involves adhering to the established security standards put forward by major credit card providers (including VISA and MasterCard), which since 2005, have included a quarterly network scan and an annual compliance questionnaire to be completed by all online merchants. Click here to learn about LFC Hosting's quarterly network PCI compliance reporting service, included free-of-charge with all of our business-oriented hosting packages (starting at only $9.95/month).

Free Quote!

So, if you're looking to establish an online store, there's no question that you need the ability to accept credit cards.

With most other merchant account providers, including your bank, you will have to go through a substantial screening process, pay applications fees, and undoubtedly a fee for the cost of your processing terminal (either physical or virtual).

However, to close the loop in our one-stop shop for eBusiness, Loose Foot Computing is able to offer you with the ability to accept Visa, MasterCard, and AMEX through your website with your own merchant account (so that your company name will show up on the credit card statements of your customers) with no applications fees or obligation whatsoever. Therefore, why not get your Free Quote today, with no obligation, and start accepting credit cards almost immediately!