White Label Debit Card Fraud Prevention Mechanisms

Sept. 22, 2010 - PRLog -- A modern solution to various types of payment needs is a white label debit card. A company will purchase, in bulk, cards bearing the company name for use in paying salary to distant employees, distributing insurance benefits, distributing Forex payments, and the like. A basic necessity of using debit cards for any and all types of payments is the ability to review and analyze use, including the ability to detect possible fraud and misuse. A well designed, professional white label card payment solution will have state of the art fraud prevention mechanisms included in the turnkey software that integrates banking, the payment system, and individual card control and oversight.

White Label Debit Card Fraud Detection Software

Leading card service companies use a turnkey solution embedded in the credit/debit card software to minimize the potential for card fraud and misuse. With all card programs an essential ingredient is a mechanism for oversight and prompt action to prevent fraud and abuse.

Although technology is not the only means of preventing fraud a well designed technological tool can play a powerful role in tracking all transactions and identifying potential abuse. Such technology will help identify those with card use privileges who may not be using their cards in accordance with card usage policy.

A professionally designed and upgraded fraud and misuse software is based upon rules that the company designs. These rules are meant to identify suspicious use and are designed with the help of the professionals in the white label card company and their technical and security experts. Such software allows for 24/7 monitoring of card use and has built-in alerts that will notify the appropriate staff immediately in case of suspected abuse.

A common problem in business is the card user who does not intend to commit fraud but does not really understand the limits of card use. This may apply to a distant employee who has a card to be used for certain business expenses. He or she may mistakenly use that card instead the appropriate credit card for dinner at a restaurant. A well programmed software will pick this up and allow the company to notify their employee before more mistakes in card use are made.

With a professionally designed card fraud and misuse software integrated into company payroll, banking, and accounting the matter of finding out why inappropriate debits are showing up on a given card does not have to wait for end of month statements or longer for a breakdown of expenses. The problem will show up as it happens and can be dealt with promptly and appropriately.

White label fraud and misuse detection software users will define a set of “rules.” When the system detects a “rule violation” the transaction is highlighted and can be immediately investigated. In addition the software can be programmed with various levels of detection and analysis rules. If a card user is suspect the card’s transactions over any period of time going back to card issue can be analyzed using any and all analysis criteria. This type of software can use non-monetary data such as type of use, item purchased, location of use, and variance from normal use pattern. This advanced feature will help the owner and manager of the white label card system track all variant card activity including possible card theft.

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