Enhancing Payment Fraud Detection with Rapyd Protect

In this article, we explored how Rapyd Protect offers a robust solution for fraud prevention by combining machine learning with customizable rules. Here's a summary of key points covered:

1. Introduction to Rapyd Protect:

   • Overview of Rapyd Protect as an advanced tool for preventing payment fraud.
   • Explanation of its core features: ML-driven analysis and user-defined rules.

2. Creating Custom Fraud Prevention Rules:

   • Step-by-step guide on setting up a rule to block high-value card transactions (e.g., those above 2,500 EUR).
   • Instructions for navigating the Rapyd dashboard and configuring specific conditions and actions.

3. Testing and Validating Rules:

   • Use of Virtual Terminal to simulate payment scenarios and test rules.
   • Verification that legitimate transactions below the threshold proceed while higher ones are blocked.

4. Monitoring Transactions:

   • Reviewing blocked transactions in the "Blocked" section under "Review & Protect".
   • Checking successful payments on the "Payments" page to ensure compliance with set rules.

5. Advanced Features of Rapyd Protect:

   • Overview of additional functionalities such as 3D Secure rules, review rules,

Read the full article at DEV Community

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