Are you an online merchandiser selling products online? One of the advantages of buying online is its anonymity, which is the main cause top credit card processors of deceptive activities. If you have been selling online for a while, you might have faced already some online fraud — when customers try to use the thieved credit card numbers or commit purchases using the other model’s name.
This often results in huge losses for a merchant — you get refunds and chargebacks for those illegal sales. In order for your online business to survive you must ensure that you have a good anti-fraud system working tirelessly for you — screening and identifying deceptive orders, this way you can protect yourself by refunding the payments prior to when a buyer fills a claim at a bank and this way protect yourself from getting a chargeback.
Making money on the internet is easy provided you have a good anti fraud technique. Whether you are already performing online or are just starting out — make sure to use these guidelines to name suspicious customers behavior. This can save you not only a lot of money, your business reputation, but also a lot of headache with your credit card processing company.
You can get a solution for the anti fraud online itself by checking for the list of thieved credit cards or new credit card numbers.
Visa and Master card has changed a new system called 3d Secure payments. It is known as Verified by Visa or Mastercard SecureCode. These systems impose an additional security level where customers have to enter an additional their selected security password during the purchase. When you use 3d Secure payments you get protected from around 60% of the very most popular chargebacks — with a reason — Used to do not authorize this payment or I didn’t do it.
Call the number that customer provides when ordering your product. Online con artists usually usually provide bogus/not working phone numbers.
Take precaution safeguard if the shipping address and the accounts receivable address varies. Make sure to call the customer before shipping your item to name if it is a legitimate order.
Look out for strange orders that order in bulk which is usually not common. Especially when the order’s amount is huge. Fraudsters usually try to spend as much money as possible to get the most of the orders.
Collect all the available data like the address, credit card holder’s bank information or phoning number of the customer before proceeding with the business, as this information will be useful to file a case if you get ripped off.
Most of the times online fraudsters use thieved credit cards to purchase online. This will not be revealed prior to the transaction tidies up. It is a disbelief anytime you swipe the credit card into the swipe critical all the information gets verified. It does not. Therefore an anti fraud system is a must for marketers. Many transactions take place during the day and sometimes multiple transactions take place at the same time. It is difficult to verify each transaction credit card details without an antifraud service.
You have 2 ways: either screen and monitor all online orders yourself or simply use a payment processing system that not only allows you to process credit cards online, but moreover screens and monitors all orders for you. One of such payment processors is Click2Sell. EUROPEAN (www. click2sell. eu) company. They allow you to process card payments online and automatically monitors all the orders and helps you prevent fraud, so you don’t have to do anything hand.
There have been many reported cases of men and women losing sums of money in online business. Therefore, an anti fraud system is a basic dependence on an online business because no one wants to lose their wages in fake transactions. So make sure you have a good anti-fraud system in place when starting your online business.