ALL >> Business >> View Article
Online Credit Card Processing: Fraud Prevention Tips

Preventing fraud is a never ending chore for the business owner and the online credit card processing companies. Identity theft is at an all-time high with no end in sight. Nowhere are the effects of this phenomenon felt more keenly than the online business market place. As a business owner there are things that you can do to help fight credit card fraud.
The Importance of Fraud Prevention
Credit card processing is the grease that makes online businesses turn smoothly. When your business gets hit numerous times by fraudulent purchases, you and your business are on the hook for the charges. If your chargeback rate is getting too high, you could actually lose your credit card processing account.
What Can You Do?
• The most important thing you can do for your business is to find a credit card processing company that offer the latest technology for detecting fraud.
• Address verification is a system that matches the credit card to the address that is being used for the order. If they don’t match up, the purchase is not allowed.
• The credit card verification number is a 3-4 digit number ...
... on the back of a credit card. This is one more way to ensure that your purchaser is the actual cardholder. In the past, it was possible to order with just the numbers and expiration date. These measures cut instances of fraud down immensely.
• One of the newest innovations in fraud prevention is the 3D security. Its use is not widespread but it is a password system. The card holder will have created a password that they have to use inorder to complete the transaction. It is similar to using a pin number.
Going That Extra Mile
Your customer trusts you to take care that their personal information is secure. In addition to the security your website must have the Secure Sockets Layer encryption protocol. It is imperative that you ensure that pages with sensitive information are encrypted. It makes it harder for identity thieves.
While online hackers are busy improving their methods daily and no one can anticipate all scenarios, you must be prepared for any eventuality. Think outside the box and work hand in hand with the online credit card processing company to make your business thrive and keep your customers safe.
A Matter of Trust
In order to build trust with a customer you as a business owner have to have complete faith in the credibility of the online credit card processing service you are using. When searching for a company it is important that you look for a few things that should be standard practice. They should not use a third party; it should be a secure payment gateway. They should also have real time reporting software, no waiting for statements. The company must be able to handle more than one type of currency.
One of the biggest things on the list should be the availability of their customer support teams. People shop online 24 hours a day, 7 days a week, and 365 days per year. The customer support should reflect this trend. When a customer has a problem on Saturday morning at 3am, they want to talk with online credit card processing people right then, not wait for Monday between 9-5.
Find more information relating to high risk merchant account, and online credit card processing here.
Add Comment
Business Articles
1. Lucintel Forecasts The Global Wall-mounted Ac Ev Charger Market To Grow With A Cagr Of 22.4% From 2025 To 2031Author: Lucintel LLC
2. Technology Landscape, Trends And Opportunities In Global 3d Printing Photopolymer Market
Author: Lucintel LLC
3. Lucintel Forecasts The Global Smart Home Market To Reach $372 Billion By 2030
Author: Lucintel LLC
4. Second Marriage Matrimonial – Verified Matches & Free Registration
Author: Truelymarry
5. Core: Leading The Way In Managed It Services For Businesses Across London
Author: IT Management
6. The Role And Function Of A Collection Agency
Author: Bennett Carter
7. Understanding Debt Collection Agencies: What They Do And How They Affect Consumers
Author: Bennett Carter
8. How To Use An Smm Panel Effectively For Fast Social Media Growth
Author: Smm Panel
9. Essential Tips For Beginners And The Power Of Professional Editing
Author: Sam
10. How To Improve Field Staff Efficiency With Geolocation Tools
Author: TrackHr App
11. Building An Effective Energy Management System
Author: Jane
12. Internal Auditor Training: The Key To Effective Risk Management And Compliance
Author: Sqccertification
13. Why Accurate Accounting In Property Management Is The Key To Higher Roi
Author: Harsh Vardhan
14. Kaal Sarp Puja In Trimbakeshwar – Benefits, Process & Trusted Pandit Contact
Author: Pandit Milind Guruji
15. Data Entry Vs. Data Processing: What’s The Difference And Why It Matters
Author: Allianze BPO