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How ZepSecure work?

How ZepSecure Work - iPay88
a laptop showing a pile of codes

Online fraud always has been a major challenge to all online business owners. Online marketplaces could be a huge source of revenue for small businesses even without their website or with a low marketing budget. 

However, with the expansion of the online marketplace, there are huge expansion activities of fraudsters, as well. If you use the Internet, you are at risk of falling into the hands of fraudsters.

However, iPay88 has advanced anti-fraud screening technology which minimises the risks of fraud and protects your business. 

This system will be upgraded from time to time to fight against the latest online fraud outside there. These are how ZepSecure works, our anti-fraud system.

There are several anti-fraud rules that can be implemented by merchants:

User transaction limit

  • Merchants could set the amount per transaction limit.
  • Merchants could also set the daily transaction limit (Accumulated spending) per ID/e-mail. It means that the merchant can set the amount of transaction that the e-shopper can make.
  • Merchants can set weekly transaction limits (Accumulated spending) per ID/e-mail. This is almost similar to the one above, but on a weekly basis instead of daily.
  • Merchants could also set monthly transaction limits (Accumulated spending) per ID/e-mail.

Card quantity

Merchants could set the number of credit cards per user per ID/e-mail/contact/name card (set up by either through ID or e-mail). 

After the merchant sets the number of credit cards a user can use, the e-shoppers cannot purchase goods from the website although he/she is using a different card. 

This is because the “ZepSecure” can detect it by tracing either the ID or e-mail associated with a bank card.

Transaction quantity

Merchants can set a number of transactions per duration (daily, weekly, monthly) and per ID/e-mail. It means that, for example, a merchant can set the daily limit of transactions that e-shoppers can make per day. 

ZepSecure” detects the e-shoppers through their ID/e-mail.

BIN Bank

BIN Bank means bank identification numbers, which are the first six digits that are displayed on a debit or credit card.

3D secure

One thing that merchants need to know about the 3D secure (3DS) transaction is the liability shift. Any party that does not have 3D-secure in place will be liable and exposed to the risk of unauthorized transaction chargeback.

iPay88 has the capability to process both 3DS and non-3DS transactions based on the merchant’s needs and requirements.

In most cases, we would highly encourage merchants to opt for this feature. This feature is free and there are no additional costs.

Merchants, especially those selling high-end digital goods such as cameras, mobile phones, computers or software where the goods will be dispatched once the payment has been made by the e-shoppers, should opt for this feature.

Cybersecurity in Malaysia

In Malaysia alone, the common practice is to send OTP SMS to cardholder’s registered mobile number and they need to complete the authentication.

By all means, iPay88 risk team implemented this system to reduce the fraud risk for the merchant.

With the advancement of technology, this system will be updated from time-to-time to fight against latest online fraud you could find it online.

To find out more, contact us now.

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