Fraud and security concern, how it applies in e-Commerce and banking financial
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Transcript of Fraud and security concern, how it applies in e-Commerce and banking financial
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The right payment gateway provider and
payment options can provide your business
the competitive edge
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Travel Portal
Seeking Approval Payment
Online Buyers / ]members
Payment Approval Payment Status Fulfillment
Payment Gateway
Banks/ Financial Insitutions
Purchase
E-Commerce Flow
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Critical Points when considering a payment gateway provider
1) State of the art FRAUD System . Flexible and it is a rule based system
. Extensive domestic, regional and global database
. Years of Experience and proven track record
. Pre trade/transaction attempted fraud and post trade
. Have critical fraud tools
. Many more!
2) Comprehensive connectivity to all major shopping carts
3) Many payment options and direct connectivity to the banks
4) Provide Multi currencies
5) Provider of the gateway must be registered and notified by Bank
Negara under the “system payment act 2003” and must be
well established and proven in the market.
6) Leading Payment gateway in South East Asia (SEA).
Choose ipay88 and you have all the above and beyond
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About iPay88 / Mobile88
• Founded Mobile88.com in Apr 2000
• Mobile88.com obtained MSC Status in 2003
• Founded iPay88 in year 2006
• iPay88 obtained MSC status in 2007
• iPay88 notified under “System Payment Act 2003” by Bank
Negara in 2007
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“iPay88 is an Online Payment Service offered to sellers (or e-merchants) which
allows sellers to be paid by their customers via online, anytime and anywhere by using
the various payment channels:”
What is iPay88 ?
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iPay88 – Comprehensive Payment Options (local)
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iPay88 Payment Network / Cloud – First in Asia
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How iPay88 help merchants on regional e-Commerce
• Credit Card penetration is still low in most of South East Asia countries.
- Need to educate the industry such as merchants and the users.
• Appointed by Mdec to be part of Digital Malaysia initiative and also to assist MSC status companies to expand to overseas markets.
• iPay88 supports local payment options
• Cover non-Card customer such as online banking, e wallets, payment over ATM, payment over the counter and payment over the Digital Kiosk.
• One Stop Regional Payment Gateway Service Provider – save time & cost
• iPay88 is an established award winning regional payment gateway in South East Asia – Full operational offices in Malaysia, Indonesia, Philippines, Singapore and Thailand.
• Soon will be Vietnam, Myanmar and Lao.
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iPay88 Products
Functions
&
Features
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Company Background
iPay88 - Achievement
“Most Outstanding Merchant 2009”
Platinum Partner
APICTA 2010 Malaysia – Best of Financial
Applications
Compliant with Payment System Act 2003
(notified by Bank Negara) since 2006 http://www.bnm.gov.my/microsites/payment/05_regulatees.htm
Fraud rate below 0.05%
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PRODUCT & SERVICES
Comprehensive Payment Methods :
• Credit Card
• Online Banking
• E-wallet
• Counter Payment (walk-in)
Cash Management Gateway
(Payout)
Coming Soon
Online Payment Gateway
Payout Channels :
• Bank TT
• Remittance Channels
• Local Banks Transfer
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Online Payment
Direct Link
(online payment
gateway)
Virtual Terminal
Email Payment
(Request for
Money)
Virtual Link
(Virtual Shopping
Cart+Payment)
Auto-Debit
(Scheduled
Collections)
Multi-Pay
(0% Installment)
Mobile-Pay
(Pay using
Mobile Phone)
E-WalletEscrow Service
(C2C)
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PRODUCT & SERVICES
PayOut (Cash Management)
Oversea
Remittance
Cheque
(Issue & mail)
Local Banks
Cash
Management
Telegraphy
Transfer
Payout
(Payment to 3rd
party)
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ipay88.com
Mobile88 Group
of Companies
Malaysia Oversea
IPay88 Sdn Bhd
Mobile88 Sdn Bhd
RubyMax Sdn Bhd
Positive Reliance
Sdn Bhd
PT. Dinamik Mobile
(Indonesia)
IPay88 International
Limited (U.K.)
IPay88 Philippines
Inc.
100% owned
100% owned
100% owned
40% owned
100% owned
100% owned
2011 Trnx amount: US$54mil
Net Profit: US$250,000
Initial Paid-up Capital: PHP250,000
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Online Payment Switching Gateway
Security and Fraud Control
PRESENTATION
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Fraud Administration
&
Monitoring System (FAMS)
FAMS
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Current Process
‣ All transaction flow through Kasikorn Bank
credit card processing gateway
‣ Fraud only get notified by Kasikorn Bank
credit card processing gateway when
customers file their disputes
‣ Only able to manage post-transaction risks
monitoring - high risks for dispute rates
CURRENT PROCESS
ipay88.com
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New Process
‣ Deploy IPay88 FAMS into Kasikorn Bank’s
Credit Card Processing system
‣ All transactions flow through Kasikorn Bank’s
Credit Card Processing system will filter by
the IPay88 FAMS
‣ Able to conduct Pre-transaction and
During-transaction risks assessment and
filtering, reduce at least 80% of the frauds
NEW PROCESS
ipay88.com
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New Process
‣ Pre-transaction Filtering:
‣ filter by email
‣ filter by black list IP
‣ filter by black list country
‣ filter by white-list IP/country
‣ filter by white-list email/name
NEW PROCESS stage one: pre-transaction fraud filtering
ipay88.com
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‣ During-transaction Filtering:
‣ filter by black-list credit card number
‣ filter by Bin-number
‣ filter by issue bank
‣ filter by Verified by Visa/Master
‣ filter by white-list credit card number
‣ filter by white-list Bin-number
NEW PROCESS stage two: during-transaction fraud filtering
ipay88.com
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New Process
‣ Post-transaction Filtering:
‣ Velocity check
‣ Historical pattern check
‣ Product risk filtering
‣ Fraud statistical trending
NEW PROCESS stage three: post-transaction fraud filtering
ipay88.com
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New Process
‣ Merchant Monitoring:
‣ Web crawler for webpage indexing
‣ Risks profile management
‣ Fraud level monitoring
‣ Merchant risks management base on
industry and category
NEW PROCESS on-going : merchant monitoring
ipay88.com
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Data Communication via HTTPS (SSL)
SHA1 Digital Signature verification
Pre-determined Source & Target URLs
Merchant re-query
PCI DSS Certified
System Security
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Detail Transaction Log
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• Transaction limit
• Transaction value
• Within certain time frame
• By IP address, email, credit card …etc
• Merchant limit
• Limit set by monthly, or daily
• Maximum amount per transaction
FRAUD CONTROL
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• Frequency Check
• Number of attempt
• Number of card used
• By matrix (using same email, IP Address, Contact, name…..)
• IP Filtering
• Reject or highlight transaction from high-risk country
• Bin bank filtering
• Fraud score from 3rd Party (Fraud Labs)
• Accept only 3D compliant card for high risk category (Exp: Gadget, Virtual Products)
FRAUD CONTROL
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FREQUENCY CHECK
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IP/COUNTRY FILTER
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• Blacklist Database
• Credit Card
• IP Address
• Update credit card list from hacker forums
• White list
• Pre-register credit card
• Eg: Apply to high risk merchant – virtual products
FRAUD CONTROL
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BLACK LIST DATABASE
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• Eye-Balling to track potential fraud
• IP location and Card Issued location (system highlight)
• Customer name and Card Issued location
• Website Auditing
• Random check every quarterly (focus on high risk category).
• Automated website audit (3 levels web pages)
• To track possible changes of products / services by merchants (to sell other illegal products)
FRAUD CONTROL
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Foreign issued Credit Card will be highlighted.
FRAUD CONTROL
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• Customizable transaction filters (rules)
• By merchant
• By category
• Any other conditions (base on database parameters)
RULES BASE
FRAUD FILTERING
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CUSTOMIZE RULES
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CUSTOMIZE RULES
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Achievement
&
Portfolio
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Media & Portal :
Telco & Bank:
Groups Buy :
Fashion :
Event :
Ticketing:
Jobs :
Classifieds:
Some of iPay88 Clients (for reference)
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NGO & Charity :
Gift & Flowers:
IT Services :
Games:
Foods & Glocery:
Govertment :
Investment:
Some of iPay88 Clients (for reference)
E-Mall:
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Largest Regional Payment Network Connected to more than 250 banks in Asia & Europe
Philippines :
CHINA :
Thailand :
Australia & NZ :
Malaysia :
Europe :
Saudi Arab :
Indonesia :
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Thank you