Monitoring

GoCardless Protect+ is GoCardless’ fraud prevention product. The Monitoring page attempts to help you fight fraud by providing actionable data and insights on your customer base, and illustrating the impact your fraud prevention efforts are making on your bottom line.

There are three graphs currently displayed on the Monitoring page.

Graph 1: Fraudulent Events

GoCardless tracks events associated with bank debit mandates that payers have set up. There are many types of events: a payment being taken, a payment failing, or a chargeback, for example. If an event is considered high risk, like a chargeback, we will record it as a fraudulent event. 

The Fraudulent events graph categorises these events into three main types of fraud: 

1. Identity fraud: The customer uses bank account details that don’t belong to them or aren't suitable for a bank debit setup.

2. No intent to pay: The customer uses a valid bank account but no funds are transferred to the merchant. This might be caused by a lack of funds, payment cancellations or mandate cancellations after a short period of time of the setup.

3. Unfair chargebacks: The customer uses a valid bank account but payments are charged back after using the service.

We track instances of these events in your customer base to give you a visual representation of potential fraud in your business.

Graph 2: Estimate of total fraud losses that have been prevented

This graph requires that your business has used Verified Mandates for a minimum of 2 months in order to display the data. It aims to show you the estimated monetary value of your fraud prevention efforts using GoCardless Protect+. This graph is only an estimate, because we can’t be sure how much fraud you’ve prevented if it never happened.

This number is calculated from the product of the following three elements:

• number of fraudulent events - estimated based on your historic traffic and observed fraudulent events trend

• success detection rate - the percentage of fraudulent events being correctly detected for verification, (aka. recall)

• estimated mandate value - this is the averaged mandate value based on your previous monthly transaction history, only a single payment value is used.

Graph 3: Recovered from chargeback challenges

This graph shows the total amount recovered through challenging chargebacks.