How 2FA Protects Your Store?

Created by Terry Yee, Modified on Wed, 29 Jul at 1:56 PM by Terry Yee

Protecting What Matters Most: Your Revenue

When you process payments through Axaipay, your merchant dashboard controls vital financial operations—including settlement bank details, refund processing, and store transaction histories.

Enabling 2FA isn't just about cybersecurity; it's about safeguarding your revenue and business operations from financial fraud.

2 Major Threats 2FA Protects You Against

1. Fraudulent Refunds & Financial Loss

The Risk: Compromised credentials can allow malicious actors to issue unauthorized, large refunds to foreign accounts or fraudulent store accounts, depleting your balance.
How 2FA Protects You: High-risk actions within your dashboard require an active 2FA session, preventing bad actors from issuing unauthorized refunds.

2. Credential Stuffing & Automated Attacks

The Risk: Hackers use automated bots to test millions of leaked username/password combinations from other websites on payment gateways like Axaipay.
How 2FA Protects You: Automated bots cannot pass the 2FA step because they lack physical access to your secondary authenticator device.

Security vs. No Security: A Quick Comparison

Scenario	Standard Password Only	Password + 2FA Enabled
Password leaked in a data breach elsewhere	❌ Attacker logs in and accesses payouts	✅ Attacker is blocked at the 2FA prompt
Phishing email tricks staff into sharing login	❌ Attacker gains full access to store balance	✅ Attacker cannot log in without the physical phone
Attempt to change settlement bank details	❌ Bank account changed instantly	✅ Verification code required to confirm changes