If you’re a Vantiv iQ for eCommerce user and you haven’t yet explored the available Fraud Reports (look for the shady character icon in your left navigation bar), you’re missing out on key fraud-related metrics. Even if your company doesn’t subscribe to Vantiv’s Fraud Toolkit or Fraud Chargeback Prevention Service, you’ll find valuable data and analytics.
The Fraud Snapshot and Post-Deposit Impact reports enable your fraud and chargeback teams to track multiple fraud metrics daily, such as number and rate of filtered transactions and corresponding trends of issuer-confirmed fraud alerts.
As you seek to optimize your authorization approval rates, identifying where you may have false declines that are within your control – such as mismatches from Address Verification Service (AVS) and Cardholder Verification Value (CVV) – can be critical.
Also, be sure to check the export feature in Fraud Snapshot that enables you to analyze every transaction that has been filtered out by the rules you’ve set up in Fraud Toolkit. Gain insight into the impact of your fraud detection strategies on your business with its graphical displays of trends and data summaries.
The Post-Deposit Impact report aggregates your fraud alerts and chargeback performance by deposit date, helping you identify the connections between fraud and its downstream impacts. A method of payment breakdown also helps indicate where the largest issues and potential benefits are to be found.
If you’d like to learn more about these reports, please reach out to your Vantiv Relationship Manager for a demonstration of fraud analytics found in Vantiv iQ for eCommerce.