The Merchant Velocity Check

Merchants can use a velocity check to review payment transactions for repeating patterns within a defined time period. This is designed to effectively detect fraudulent patterns in online transactions. At Powercash21, our risk prevention team will assist you in determining which velocity rules are appropriate for your specific merchant account.

What are velocity checks?

These frequency checks monitor specific data elements that assist merchants to check and compare a customer’s shopping history with current purchases in order to identify any irregularities in their purchasing behaviour. Fraudulent payments can be prevented if the check is performed correctly. This is where you can rely on Powercash21’s fraud prevention management tool.

A frequency check consists of three standard elements; the count element, the timeframe element and the data element. Data elements can vary from the device identification code (ID) to the billing and shipping address of the cardholder. Whereas time frames depend on the type of business you operate. For example, the timeframe that a merchant with an online fashion store would use would be different from the timeframe that a merchant with an online electronics store would apply for checking, as consumers shop more often for clothing than for electronic devices.

What are velocity checks?

What is monitored during velocity checks?

Merchants can get information on various data elements when this frequency check is performed. It’s important for your business to be equipped with an effective checking tool along with other risk management tools, in order to be protected from fraudsters who attempt to make payments with stolen cards. 

The most used data elements for these checks include:

  • Email Address
  • Phone Number
  • Billing & Shipping Address
  • Credit Card Number
  • Device Identification
  • Payment Method
  • User Identification
  • IP Address

What is monitored during velocity checks?

Powercash21 will work with the merchant to establish the velocity rules that best suit your business. For the safety and security of your business, velocity checks are crucial and Powercash21 can help you ensure that your risk is appropriately managed.

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