Brazil’s Payment Card Fraud Epidemic: A Growing Concern
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Brazil is one of the world’s top 10 countries with the highest credit card fraud rates. Despite having strong consumer defense legislation, the country is struggling to combat the growing menace of payment card fraud.
Complex Landscape for Businesses
The country’s consumer defense legislation has created a complex landscape for businesses, making it challenging to effectively prevent and dispute fraudulent transactions. Fraudulent activities such as identity theft and social engineering have become increasingly common in Brazil, with many e-commerce companies losing significant revenue due to these schemes.
Challenges Faced by Businesses
Banks are required to accept chargebacks filed by consumers and immediately refund the amount paid, while businesses face challenges when disputing unjustified chargebacks. This can result in financial losses for businesses, as they may not be able to recover the stolen funds.
The Need for a Robust Online Fraud Prevention Solution
To combat payment card fraud, a robust online fraud prevention solution is essential for reducing losses caused by fraudulent transactions. PagShield, an intelligent anti-fraud tool specifically designed for the Brazilian market, offers a state-of-the-art solution to detect and prevent payment card fraud in real-time at a low cost.
How PagShield Works
PagShield’s unique technology utilizes self-learning buying behavior analyses to identify fraudulent transactions automatically, saving businesses time on manual reviews and reducing false positives. The system is tailored to the specific needs of the Brazilian market, with features such as:
- IP geo-location checks
- Device fingerprinting to detect suspicious activity
Benefits of PagShield
PagShield’s algorithm adapts itself to each e-commerce business’s unique characteristics, allowing it to identify atypical behavior and automatically flag suspicious transactions. This eliminates the need for constant manual management of fraud rules.
The system is easy to set up, requiring only a few configurations and integrations with existing APIs or iFrames. PagShield provides real-time scoring of all transactions, identifying suspicious orders while minimizing false positives.
How to Use PagShield
Businesses can use PagShield as a standalone solution or combine it with their existing antifraud system for enhanced fraud scoring information. With no contractual obligations in terms of duration or volume, and free setup and configuration, PagShield offers a highly efficient antifraud solution at an affordable cost per transaction charge.
Conclusion
Brazil’s payment card fraud epidemic is a growing concern that requires a robust online fraud prevention solution to combat it effectively. PagShield offers a state-of-the-art solution to detect and prevent payment card fraud in real-time, providing businesses with a cost-effective way to reduce losses caused by fraudulent transactions.