Conformance Technologies releases TransactionTrap software
February 13, 2018
Conformance Technologies, a Reno-based provider of technology solutions, education and expertise used to manage business compliance requirements, has released the TransactionTrap, a software module that enhances performance of its InConRadar service for merchant acquirers and independent sales organizations (ISOs).
TransactionTrap identifies fraudulent merchants attempting to hide transactions by accepting shopping cart payment information on one website and pushing the data for actual processing through a separate, and perhaps unrelated, credit card acceptance account with the purpose of hiding volume, masking the true nature of goods being sold, or to perpetuate a false-front merchant — one that claims to be one type of retailer but is, in fact, another.
TransactionTrap employs a proprietary algorithm to identify suspect goods and services, and/or merchants. Questionable items offered for sale from websites are identified, purchased and shipped to a secure, unidentified Conformance location for physical examination and photo documentation to ensure legitimacy and legality. A variable code is secretly injected into the process, marking order transactions all the way from purchase through delivery to help investigators identify bad behaviors much more accurately.
Refund policies and procedures are tested by returning merchandise to merchants.
"With TransactionTrap functionality, InConRadar solves the difficulty acquirers and ISOs face in efficiently and effectively investigating both blatant and stealth forms of merchant fraud," said Darrel Anderson, president of Conformance Technologies. "We not only track transactions based on known card type, but procure goods for examination and return merchandise to test policies to create a solid order custody record acquirers and ISOs can use for validation and legal purposes."