Payments

What happens if I believe I have accepted payment using a fraudulent card?

Monday, July 13, 2020

ArcartaPay uses numerous security protocols and processes to safeguard against any fraudulent card transaction. As such, effective use of the ArcartaPay service - combined with Stripe - provide reliable, defensible means to mitigate against fraudulent transactions occurring through use of the Approval or Reversal of any payment.

Below we explore the various sequences within each transaction and explore how the likelihood of fraud occurring is dramatically reduced.

During Checkout:

During Checkout, the payment processor - Stripe - uses advanced fraud protection, security and machine learning to detect and block any suspicious card activity.

While Machine Learning tracks and analyses the purchasers behaviour, card payment data is screened against a credit card industry blacklist and the Office of Foreign Asset control. Anti-Money Laundering checks are also performed against the card data.

If Stripe suspects and or detects fraudulent activity, the card will be rejected, the transaction declined and the sale will not be completed.


Post Checkout:

Once a card charge has been authorised, the Transaction Report generated by ArcartaPay offers additional opportunities to perform Due Diligence and Identification as part of you Know Your Customer processes. This includes - but is not limited to - Watchlist screening, Geographical Tagging, checkout session duration et al.

In addition, each Transaction Report - where a card is used to pay - there will be a level of risk designated to the card. Granted a Low, Medium or High risk, cards deemed High, are automatically rejected.


Post Shipping:

In instances where a card is later identified as stolen or fraudulent, the transaction will be moved into dispute by Stripe.

Referred to as a Chargeback, the merchant will be required and warranted in their right to overturn and challenge the dispute through the supplication of evidence indicating there was no wrong doing on the merchants part and that authorisation by Stripe was indeed granted.

For more information on how ArcartaPay works with Stripe to overturn fraudulent charges, please visit https://stripe.com/docs/disputes/categories#fraudulent

If you suspect foul play, or have been a victim of a fraudulent card or Bank Transfer while using the ArcartaPay service, please contact our team immediately on 0161 850 7571 or support@arcarta.com.