Merchant Anti-Fraud | Cardinal Commerce Overview |
 Cardinal CentinelTM offers unprecedented protection from the burdens that e-retailers currently bear due to high fraud and chargebacks rates. Through compliance with the Verified by Visa, MasterCard SecureCode and J-Secure initiatives, internet merchants are protected from over 70 percent of the chargebacks they currently face in this card-not-present environment. Currently, over 230 million cardholders in over 25 countries have registered or are pre-enrolled for participation in the various authentication initiative programs. This worldwide participation makes it easier for online merchants to safely expand their business into international channels they previously stayed away from for fear of losing merchandise and being subjected to high chargeback rates. Cardinal Centinel FeaturesGuaranteed Payment: Participating merchants are guaranteed payment* for the authenticated transactions they process, meaning that fraud losses from lost merchandise as a result of "I didn't do it" transactions can now be eliminated. 70 Percent Drop in Chargebacks: On average, our customers who implement Cardinal CentinelTM are realizing approximately a 70 percent drop in the number of chargebacks they receive on a monthly basis. With the drop in chargebacks they are able to eliminate their chargebacks fees (e.g., $15), and lost merchandise, as well as the associated administrative costs of dealing with chargebacks from a business operations standpoint. Lower Interchange Rate: Online merchants may even be eligible for lower interchange rates once they are compliant with the initiatives through the implementation of the Cardinal CentinelTM software. Accept International Transactions: All of the 3-D Secure payment authentication programs are applicable worldwide. While the specific details of the program may vary from region to region, the bottom line is that 3-D Secure, for the first time, makes it safe for merchants to accept transactions outside the U.S., and provides extensive liability coverage. Reduced Operational Costs: Currently, most eCommerce merchants employ a variety of fraud screening measures to protect themselves. A great deal of money, manpower and time is directed towards fraud prevention. However, with Cardinal CentinelTM enabled, merchants can eliminate much of the time and effort spent screening transactions and performing follow-up calls to customers and their issuing banks. No False Positives. No False Negatives: Many merchants who use Fraud Scoring Services understand that it is an imperfect science, with no guarantees. Set your risk threshold too low, and you risk allowing too many fraudsters to slip in (False Positives). Set your risk threshold too high, and you risk turning away good customers (False Negatives). So the constant dilemma for merchants is this: what it a safe level of risk to accept? More importantly, regardless of what your risk threshold is, merchants still are offered no guarantee on any of the transactions they accept with these types of services. Fraud Scoring offers merchants an idea of what their risk level is, but can't offer any guarantee of preventing fraud or chargebacks. What it can guarantee is that you will still have False Positives and False Negatives. 3-D Secure payment authentication has no False Postives or False Negatives. Either the customer is authenticated, or not. In the case of Verified by Visa, merchants are guaranteed payment* on all Visa credit and debit card transactions, just for attempting to authenticate a customer, regardless of whether the cardholder is even participating in the program. *Visa guarantees payment for participating Verified by Visa merchants on all Visa credit and debit cards, excluding Visa Commercial Cards and Anonymous Pre-Paid Cards. |
