As the world becomes more connected, it becomes easier and easier for scammers to attempt fraudulent transactions.
Any business can be susceptible to fraud, but events are being increasingly targeted by scammers, making them vulnerable to fraud and transaction disputes which can create huge (and expensive) headaches for event producers.
This is the third installment in our three-part series all about reducing fraud at your event. We previously covered how to prevent ticketing fraud in person and online. But we haven’t talked yet about one of the most important things event producers can do to protect their businesses against fraud: choosing the right ticketing provider.
You might think that all ticketing providers offer the same level of fraud-busting protection, but that’s not the case.
Ultimately, the card-issuing bank is the entity that should be recognizing transactions as uncharacteristic of the card-holder and/or know when a card has been stolen and stop approving transactions. Unfortunately, this doesn’t always happen.
And while you have control over which payment methods you choose to accept at your event, you can’t be expected to call a card-issuing bank before every transaction to make sure that the information on file matches what the guest provided at checkout. You wouldn’t have time to run your event!
That’s where a ticketing partner’s fraud-prevention and fighting practices can help save you from fraud and disputed transactions. The right partner will take care of those details to help reduce fraud, and should also be your first line of defense against any disputed transactions that may occur after your event ends.
Finally, they should also offer different levels of security depending on your event’s needs. If you know most of your guests and aren’t at a high risk of ticketing fraud, your customers shouldn’t have to jump through hoops to confirm their identity when purchasing tickets. On the other hand, if you’ve had trouble with disputed transactions in the past or know you’re in a high-fraud-risk area, you should be able to enable additional authentication – especially for online transactions.
At Passage, we take payments fraud very seriously. In addition to our best-in-class security practices, we also strive to keep our clients as safe as possible from fraudulent transactions and potential disputes.
While we can’t give away all of our secrets, here are a few of our practices:
In addition to those security practices, we give you the power to customize certain aspects of your ticketing to meet your individual needs.
When we later deem a transaction that was previously approved as likely fraudulent we do a few things:
We’ve got you covered! We automatically fight disputes for you. We have a ton of information about the transaction in question and we use all of that in fighting each dispute, so you don’t have to worry about gathering all the paperwork and records on your own. Learn more about how Passage helps with disputed charges here.
We do everything we can to keep fraudsters away from your event. Online, we use a combination of state-of-the-art Artificial Intelligence (AI) and Machine Learning systems to rank the risk level of every transaction in real-time, in combination with human review to catch fraudulent transactions and stop them in their tracks. And we make it simple for you to set ticket & transaction limits that make sense for your event.
In person, there’s no better system for lightning-fast scanning to secure access to your event. We help you control employee access and accept secure payment methods like chipped cards and tap-to-pay.
Did we mention we do all this at ZERO cost to your event?