iVeri BackOffice is an incredibly powerful tool that is available to all iVeri merchants. Unique functions are:
- View Transactions: Look up transactions based on a specific criterion
- Reconciliations (if available): view detailed report or summary of transactions
- Define searches for transactions by either device, terminal or period based identifiers
- Merchants can add and manage Users
- Manage transactions for most products by performing subsequent transactions
The iVeri Payment Gateway has a sophisticated 3 level fraud monitoring and notification system. The system is designed to work with a range of files that are generated from other 3rd party systems.
Merchant Transaction Profiler
Built into the iVeri Gateway is a Merchant Transaction Profiler. The purpose of this system is to profile a merchant’s characteristic trading pattern and alert the acquirer should the merchant trade significantly outside of their Transaction Profile. The system raises what is known as “Transgressions against that merchant profile and should there be a significant amount of transgressions raised, an email alert will be sent to a fraud officer who should then investigate further and take appropriate action. It is important to note that the iVeri Merchant Transaction Profiler (iMTP) is focused on finding anomalies that indicate that there may be fraudulent activity being perpetrated by the MERCHANT. This is distinctly different to fraudulent activity being perpetrated by a CARDHOLDER.
Master Negative File
iVeri is able to test each transaction against a 3rd party negative file. The transactions are then managed depending on the result received from the negative file.
Private Negative File
Each merchant can create their own private negative file that will prevent specific card numbers from being accepted but only at the merchant in question.
The iVeri Payment Gateway provides comprehensive transaction management for both the merchant and the Acquirer. These Functions include:
- Search for transactions by date, card number, and amount or reference number
- Multiple pre-authorisation
- Partial refunds
3D Secure / Fraud Management
iVeri has an agreement with CyberSource to provide their 3D Secure services to Acquirers which has been pre-integrated into iVeri’s products to ensure minimal complications for merchants. This agreement also provides their Fraud Management services in an aggregated form, which allows SME’s to benefit from these world leading services.
3-D Secure adds an authentication step for online payments. This allows for the cardholder to authenticate the transaction with a PIN
The basic concept of the protocol is to tie the financial authorization process with an online authentication. This authentication is based on a three domain model (hence the 3-D in the name). The three domains are:
- Acquirer Domain (the merchant and the bank to which money is being paid).
- Issuer Domain (the bank which issued the card being used).
- Interoperability Domain (the infrastructure provided by the card scheme, credit, debit, prepaid or other type of finance card, to support the 3-D Secure protocol). Interoperability Domain includes the internet, MPI, ACS and other software providers
iVeri will register a participating merchant into the 3D secure program through capture forms dully filled and submitted by the acquirer. Once this is done, the merchant is issued with a unique 3D Secure Merchant ID which is maintained in the Payment Gateway or merchant’s domain depending on the product the merchant is using. The same ID is passed on to the relevant card association for registration.
The functionality within Decision Manger (DM) can be broadly described by using the concept of the four dimensions (4D) of validation, with each dimension of validation providing functionality to help spot suspicious behaviour.
CyberSource fraud reports show that merchants who use detectors across the four dimensions tend to see detection rates that are twice as better than those who don’t.
Tokenisation is the process of replacing sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. Tokenisation, which seeks to minimize the amount of data a business needs to keep on hand, has become a popular way for businesses to bolster the security of credit card and e-commerce transactions while minimizing the cost and complexity of compliance with industry standards and government regulations.
iVeri’s PoS Monitoring is part of the PoSPort system and enables the Administrator to monitor which of their PoS devices are communicating with the iVeri system. The Administrator sets the monitoring schedule to update the terminals at a selected time, which will contact PoSPort confirming that the PoS devices are active. They are also able to see the overall performance of the devices as well as a device specific performance over a period of time.
The iVeri Payment Gateway allows ease of maintenance of merchants within the system including:
- Registration of merchant profile,
- Transaction set to be supported,
The iVeri Payment Gateway has a flexible file transfer mechanism for transfer of various files including:
- Batched Payments
- Hot-lists for cards
- Settlement files
The powerful built-in scheduler allows these file transfers to be scheduled. Files transfers can be made using standards such as FTP.
The iVeri Payment Gateway supports easy and flexible setting up of Global and local BINs. BINs can also be grouped into “Card types” which enables an additional level of transaction management.
The iVeri Payment Gateway allows flexible management of Users allowed access to the system. The system follows a role-based user management that provides full flexibility in defining roles, access rights and associating functions to each role.
The iVeri Payment Gateway provides a basic set of user-friendly financial and system reports for the various users of the system.
Standard Financial Reports provided include Transaction Summary Totals and Transaction Details by the following criteria:
- Card Type
Besides the basic reports, an export of the comprehensive ITS database is available for the bank to import into its MIS system.