Dreamzwallet’s Card Verification Code (CVC/CVV) service is an integral part of our Automated KYC Cheque process, designed to enhance payment security by verifying the authenticity of cardholder transactions. The CVC or CVV is a three- or four-digit code found on a credit or debit card that is not stored in the magnetic stripe or chip, providing an additional layer of protection during online transactions. When a customer makes a payment, Dreamzwallet requires the correct CVC/CVV number to be entered to confirm that the individual initiating the transaction is physically in possession of the card. This simple but effective verification helps prevent card-not-present fraud, such as identity theft and unauthorized transactions. The CVC/CVV check serves as a crucial safeguard, ensuring that only legitimate users can complete transactions, thus minimizing the risk of fraud and chargebacks for businesses.

Dreamzwallet’s 3D Secure (3DS) service adds an additional layer of authentication for online payments, designed to reduce fraud and protect merchants and customers alike. When a customer attempts a transaction, they are prompted to complete an extra step of verification, such as entering a password, receiving a one-time passcode, or using biometric authentication (e.g., fingerprint or face recognition). This additional security step, often branded as "Verified by Visa" or "MasterCard SecureCode," helps ensure that the person making the payment is the legitimate cardholder. 3D Secure significantly reduces the risk of chargebacks and unauthorized transactions by verifying the identity of the user in real time. For businesses, this extra level of security enhances trust and confidence in the payment process, while also ensuring compliance with regulatory requirements like PSD2 in Europe, which mandates strong customer authentication for online payments.

Dreamzwallet’s Geolocation and IP Address Analysis service helps identify potential fraud by analyzing the geographical location of the user’s IP address during the transaction process. By comparing the location of the user to their billing or shipping address, this service helps detect suspicious activities, such as mismatches or transactions from high-risk countries. If a user is attempting to make a purchase from a location that does not align with their known address or if they are using tools like VPNs or proxies to mask their true location, these anomalies are flagged for further review. Additionally, by examining patterns of location-based transactions, Dreamzwallet can identify and block unusual behavior, such as multiple transactions originating from the same IP address within a short timeframe. This ensures that businesses can prevent fraudulent transactions and mitigate the risk of chargebacks, providing a more secure payment environment for both merchants and customers.

Dreamzwallet’s Velocity Checks service monitors the frequency and volume of transactions made by a customer within a specific timeframe to identify potential fraudulent behavior. By setting predefined velocity limits for transactions, such as a maximum number of transactions per minute, hour, or day, businesses can flag rapid or excessive activity that may indicate fraud, such as account takeovers or unauthorized card use. For instance, if a user attempts to make multiple purchases in quick succession or tries to use the same card or account for several transactions in a short period, our system will flag these behaviors and initiate additional security checks. Velocity Checks offer businesses the ability to monitor patterns of behavior in real-time and prevent fraud before it occurs, thereby reducing the risk of chargebacks and ensuring a smoother transaction experience for legitimate customers.

Dreamzwallet’s Machine Learning and AI service harnesses the power of advanced algorithms to detect and predict fraudulent activities in real-time. By analyzing vast amounts of historical transaction data, machine learning models can identify patterns and behaviors typical of legitimate users and compare them against potential fraudulent activities. The system continuously learns from new data, becoming more accurate at detecting fraud over time. AI-powered tools can flag suspicious transactions based on factors such as unusual spending patterns, abnormal device usage, or geographical discrepancies. This dynamic approach to fraud detection allows Dreamzwallet to adapt quickly to evolving fraud tactics and provide businesses with proactive, automated fraud prevention. Machine Learning and AI help ensure a higher level of accuracy in fraud detection, reduce false positives, and enhance the overall security of online transactions.

Dreamzwallet’s Fraud Scoring service uses advanced analytics to assign a risk score to each transaction based on various factors, such as the user's behavior, historical transactions, and device attributes. This score helps businesses assess the likelihood that a transaction is fraudulent, allowing them to make informed decisions on whether to approve, decline, or review a transaction. The fraud score takes into account various data points, such as location, velocity of transactions, and patterns in user behavior, and uses machine learning algorithms to adjust the score based on new data over time. A higher fraud score typically indicates a higher risk of fraud, while a lower score suggests that the transaction is more likely to be legitimate. Fraud Scoring empowers businesses to take swift action against high-risk transactions, reducing chargebacks, protecting customer data, and enhancing the overall security of online payments.

Dreamzwallet’s Transaction Monitoring service provides real-time surveillance of all payment activities to detect fraudulent transactions or suspicious patterns. This service analyzes every transaction, flagging potential risks such as irregular payment amounts, sudden changes in purchasing behavior, or the use of high-risk countries or payment methods. The system tracks transaction velocity, device details, geolocation, and other data points to continuously assess the legitimacy of each payment. If a transaction triggers any red flags, Dreamzwallet alerts businesses immediately so they can take appropriate action, such as declining the transaction or initiating further verification steps. This proactive approach ensures that potential fraud is caught early, minimizing financial loss and enhancing the trustworthiness of the payment process.

Dreamzwallet’s Blacklists and Whitelists service helps businesses efficiently manage their customer base by preventing transactions from known fraudsters or allowing trusted customers to complete transactions seamlessly. Blacklists contain information about entities or individuals who have been flagged for fraudulent behavior, such as previous chargebacks, identity theft, or chargeback abuse. Any attempt from these blacklisted individuals or entities to make a transaction will be blocked or flagged for review. On the other hand, Whitelists are used to identify trusted and verified customers, ensuring that their transactions proceed without unnecessary delays or additional verification steps. By maintaining and regularly updating Blacklists and Whitelists, Dreamzwallet allows businesses to prevent fraudulent activities while also offering a smooth and efficient payment experience to legitimate customers.

Dreamzwallet’s Manual Review service offers an additional layer of protection by allowing trained fraud analysts to review suspicious transactions flagged by our automated systems. While many fraud risks are detected and mitigated through automated processes, some transactions require a human touch to assess context, verify the legitimacy of the user, or review additional information. During the manual review process, our team of experts scrutinizes the transaction data, contacting the customer or merchant if necessary to confirm details. This thorough, hands-on review helps reduce false positives and ensures that no fraudulent transactions slip through the cracks. Manual Review is especially useful for high-risk or complex cases that require expert judgment, providing an added level of security and confidence for businesses.

 Dreamzwallet’s Multi-Factor Authentication (MFA) service enhances security by requiring users to verify their identity using multiple forms of authentication before completing a transaction. In addition to the standard username and password, MFA can include additional layers of security, such as a one-time passcode sent via SMS, a fingerprint scan, or facial recognition. This makes it significantly harder for fraudsters to impersonate legitimate users, as they would need access to multiple authentication factors. MFA helps protect sensitive customer information and prevents unauthorized access to accounts or payment systems, ensuring that only verified individuals can complete transactions. By implementing MFA, Dreamzwallet ensures a more secure online payment environment, minimizing the risk of identity theft, account takeover, and other types of online fraud.