Product Update—Less Fraud, More Payment Efficiency [July’24]

After a long break, we’re back and better than ever with new features and updates designed to crush fraud and chargebacks, and enhance payment experience. 

Dive into our powerful new tools: the advanced Mastercom chargeback prevention, the seamless PayPal button integration, and the new PayPal antifraud feature. We’ve also covered the upgraded Visa 3DS payment protocols to help you stay compliant. 

New Features

Add PayPal button to your payment form

We’re excited to Activate and customize the PayPal button on your payment form to ensure a smooth and reliable customer experience. 

Why? Integrating PayPal into your payment form expands your payment options, offering a trusted and familiar choice for your customers. With faster PayPal button rendering—cutting load time from 2.1s to 1.1s—and simplified integration, your user experience will improve significantly, driving higher revenues!

You can get more information about the PayPal button in our documentation.

Block fraudulent geographies with the new PayPal antifraud feature

Ever struggled to keep your PayPal risk metrics in the green? Most of our clients have. One of the most common reasons is the influx of fraudulent transactions from high-risk locations. 

To help you filter your traffic easily and fix your fraud rates, we have developed an anti-fraud solution that identifies and blocks PayPal transactions from fraudulent regions. The moment the anti-fraud rule is triggered, you will receive the following error: “4.09 – Solid antifraud engine.” You can obtain the list of top restricted countries by contacting your account manager. 

For more strategies on reducing fraud in PayPal, check our PDF guide.

Add Mastercom to your chargeback prevention tools

We are excited to announce that we’re among the first to implement the new Mastercom feature by Mastercard. This enhanced platform is designed to streamline the dispute resolution process and provide a more efficient way to handle chargebacks.

Why?

• Enhanced Dispute Resolution: the new Mastercom feature aims to minimize chargeback costs and reduce dispute resolution times from months to days. This system will allow merchants, issuers, and acquirers to share information and resolve disputes more effectively.

• Collaboration and Efficiency: Mastercom now includes acquirers in the collaboration process, enhancing information-sharing capabilities. This inclusion helps resolve disputes before they escalate to formal chargebacks, reducing potential losses and improving the overall resolution process.
• New Workflow and Timeline: The updated workflow facilitates faster dispute resolution, cutting cycle time to 72 hours. Merchants now have a greater opportunity to influence the outcome of a dispute before it becomes a chargeback, thanks to real-time notifications and improved information exchange.

Updates

Additional data elements for Visa 3DS payments

As part of ongoing efforts to enhance online transaction security and ensure a seamless payment experience for customers, Visa now requires merchants to include additional data elements in 3DS transactions.

• New Data Requirements: to boost security and reduce fraud, Visa 3DS transactions now require additional data elements like 1.Cardholder name and 2.Cardholder Email Address or Phone Number. These additions will improve authentication and authorization, offering better protection for both merchants and customers.
• Implementation Timeline: these changes are effective from August 12, so be sure to update your systems by this date to comply with the new requirements. Not incorporating these elements could lead to declined transactions or other processing issues.

If you’re directly integrated with Solidgate, you’re all set—no action regarding data transfer is needed on your part. Solidgate will handle adding the required data fields to the payment form and submit the information for you.

Reminders

Unlock insights with our reporting tools

Want to get the full picture of your account’s primary activity and automate your payment reconciliation process? Then don’t forget to leverage our reporting tools. They will empower your decision-making with a full breakdown of your orders, transactions, payment methods, subscriptions, dispute alerts, and more. 

Learn more about the possibilities of our reporting tools here.