‹New feature, separately licensed›
Way4 is now compatible with Mastercard’s new API for the Fraud and Loss Database (FLD), enabling real-time fraud reporting to substitute for the traditional batch process. This innovation allows issuers and processors to report, modify, and delete confirmed fraudulent transactions in real-time.
Key benefits:
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Immediate response: reporting fraudulent activity against transactions as it occurs, ensuring swift action and resolution.
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Operational efficiency and flexibility: real-time submission of fraud into the Fraud and Loss Database eliminates, rejects, and reduces suspends by matching the transaction to Mastercard data.
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Flexibility in reporting: with the introduction of the Fraud and Loss Database API, Mastercard will be phasing out the existing R847 and T848 batch files. Nevertheless, Way4 clients can choose their preferred reporting method—whether it's in real-time via the new API or through existing channels like the Fraud and Loss Database User Interface, SMTM, or the Mastercom Claims Manager. If you're currently using the R847 and T848 batch files, we recommend transitioning to the new API for a more efficient reporting experience.
In addition, Way4 now also supports a new batch interface format, available as a separately licensed option at a lower cost compared to the API.
