At FedaPay, transaction security is a priority. We implement strict measures to detect, prevent, and manage fraud, ensuring the protection of both our merchants’ and customers’ data. Through control mechanisms and partnerships with reliable financial institutions, we make sure each transaction is processed with full confidence.

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Fraud Detection and Management

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Merchant-side

  • Transaction Verification : Each transaction is carefully analyzed by FedaPay’s system to detect any suspicious activity.

  • Merchant Authentication : When a merchant submits a payment request, FedaPay verifies that the request genuinely comes from the account owner.

  • Fund Management : Merchant funds are securely held by a financial institution partner and are only transferred to the merchant’s bank or mobile money account upon request.

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Customer-side

  • Bank Information Verification : When a customer makes a purchase with a credit card, FedaPay collaborates with a banking partner to verify the authenticity of the card information. If the information is incorrect, the transaction is automatically declined.

  • Mobile Transaction Security : For purchases made via mobile number, all transactions comply with the security standards set by the BCEAO (Central Bank of West African States). The customer must also validate each transaction by entering their secret PIN.

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Security Measures

FedaPay is committed to offering robust solutions to protect both merchants and customers from fraud. Here are the key measures:

  • Data Protection : Sensitive information (such as bank details) is protected with encryption systems to prevent any data breaches.

  • Two-Factor Authentication (2FA) : An additional security layer that requires users to confirm their identity via a second method, such as a code sent via SMS, an authentication app, or a verification email. This mechanism greatly reduces the risk of unauthorized access by requiring additional proof of identity.

  • Real-time Transaction Monitoring : Each transaction is monitored in real time, allowing any suspicious activity to be quickly identified and appropriate actions to be taken.

  • Collaboration with Financial Institutions : FedaPay works closely with recognized banks and institutions to ensure payment security and compliance for both card and mobile transactions.

With these processes, FedaPay provides a secure payment environment, protecting both merchants and customers from potential fraud.

Best Practices