Fraud Detection Engine
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This document describes a fraud detection engine that provides pre-transaction and post-transaction validation to verify transactions and merchant eligibility in order to make online payments more secure. It analyzes merchant and transactional fraud during onboarding processes and transactions. The engine is needed for any merchant that accepts online payments across industries like ecommerce, mobile payments, travel, and more to reduce liability, penalties, and risks from fraud and chargebacks.
Fraud Detection Engine
- 1. Features Transactional Fraud Pre Txn Validation Post Txn Validation Lending Eligibility Check Merchant Fraud Pre-Onboarding Post-Onboarding Version 1.0
- 2. Fraud Detection Engine Ver 1.0 To make online payments the most secured and safe Merchant Fraud Liability lies with US Payment Gateway acceptability of a LOB. Merchants credibility Prodigious amount of financial impact Total potential OD > 1Cr Transactional Fraud Liability Fraud/Chargeback Overhead Heavy penalties by Card Networks/Schemes Existential risk of losing the ability to accept payments Filter defaulters for real time money lending Why it is needed? Merchant/Transactional Fraud Any merchant wants to accept payment online Major categories Ecommerce - Apparels, Accessories, Fashion, Electronics Recharge - Mobile, DTH, Ticketing platform Airlines, Travel agencies & Tour operators Jewelry, Flowers & Gifts Health care products Banks-Issuers NBFC licensed lenders Wallet providers Where all required? Merchant Fraud Onboarding of not-so-well established businesses Setup fee Refund Potential OD of Merchants Transactional Fraud Single stand-alone risk evaluation platform Fallback Manager Targeted customized rules False Positives Defaulters Processing cost Latency (~10 ms) Pain Points Solved