It is not a list written on black paper. But I have to admit there was a time I did think it was that. It's a short story, but no, I won't be telling it. So, fast-forward to what we have for you today.
We just launched a feature called Blacklist. The Blacklist feature is to protect you from fraudulent customers, chargebacks, and fraud claims. Considering the high increase in cybercrime in recent times, and of course its drastic effect on businesses, this is a very timely feature.
How does it work?
When you suspect foul play from a customer as regards their payment. It could be that they might be paying with a hacked account belonging to their victim, or a fake account, any foul play that could result in loss or complications for your business.
It could be a first time customer or a returning customer. what you do is that you blacklist this customer's account. When you do this, and this person makes a payment, we will notify you it is a blacklisted account with the word “True” in the transaction notification sent to you.
A Safeword
The code is "True" for blacklisted accounts and "False" for regular accounts. It will help you take precautionary measures in delivering the product or service paid for. It goes a long way to prevent you from getting mixed up fraudulent activities/ purchases. Please, do not give value i.e products, services, until you have verified the legitimacy of the transactions.
Blacklist supports both Multi-Use Virtual Bank Accounts and Jockey. Payments made into blacklisted accounts will be tagged as "blacklisted: true" in the callback responses pushed to your server. We have already updated our API Documentation to reflect this update.
Always remember we are actively looking for more ways to help you securely run your business. You can be sure that we will continue to provide you with crucial tools to enable you to place your business on autopilot, while you attend to other important matters.
More KYC Tools
In addition to our current KYC tools, we have added Voter's Identification Number, International Passport Verification, Corporate Affairs Commission (CAC), and Tax Identification Number verification services to enable you to conduct KYC on your customers more effectively and efficiently. This is to make sure that you don't lose a single sale from customers who may not be comfortable with other identity verification methods. The Voter's Identification Number and International Passport verifications return important details of the customer, such as their date of birth, and more.
On the other hand, the Corporate Affairs Commission (CAC) verification returns the company's date of incorporation and business address. Finally, the Tax Identification Number verification confirms the company name.
We have also updated our API documentation to reflect these additional KYC verification methods to help you automate your entire onboarding process.
Let's kick out the bad guys!
