Use Maxmind to reduce fraud

Maxmind is a third party tool that is integrated with the StoreSecured and helps to identify and reduce the number of fraudulent transactions that are processed by the store.

The Maxmind service will check a variety of factors and give a score reflecting the likelihood of fraud for that particular transaction.

The following types of checks are done:
Is the user connecting from a high fraud country?
Is the billing address they have entered close to the location they are connecting from?
Is the user using a free email address?
Is the phone number located in the same location as the billing zip code?
And so on….

The cost for this service is $5 a month for up to 1250 queries. We highly recommend that all merchants use this low cost service to reduce the amount of fraud especially for high dollar items. Remember though no service is perfect and this will not 100% reduce your fraud. It is still up to you to decide which transactions to accept and which to deny but it will give you increased information to detect and stop a large majority of fraudulent transactions.

Many merchants ask, how should I use the maxmind service? Originally I would recommend that you set the fraud rejection score to 11. This will approve all transactions because the maximum score returned by maxmind is 10. As transactions begin to get maxmind scores you can see what kind of scores that they get from maxmind and determine what score is an appropriate rejection score. Ie I want to reject all transactions with a fraud score over 5. Once you set that score then no transactions with a score over 5 would be allowed to complete.

To get started with maxmind login to your storesecured account. Click on General–>Payments–>Fraud Control and complete the on screen directions and signup.