Thursday 13 October 2016

A SIMPLE WAY TO REDUCE ONLINE PAYMENT FRAUD



Businesses who take card payments online are facing increased risks of credit card fraud.  This is because, as EMV (chip cards) become more prevalent in face to face transactions, cyber criminals are shifting to online ecommerce stores, or card not present transactions.

It is estimated that fraud for these types of transactions will double by 2018.  There a number of things merchants who sell online can do to keep their businesses secure.

Use a credit card processor that utilizes a free online screening service that will help to detect fraud.  If your current card processor does not offer this for free, let Payment Processing Services do the work for you.  Our model screens all transactions and monitors unusual buying patterns that could indicate fraud, including:

·         Refund amounts greater than the purchase price.

·         High risk overseas orders.

·         CVV (security code) mismatches.

·         No match on street address and zip code.

·         Excessive authorization failures

·         Matches to a database of cardholder accounts with excessive fraud chargebacks.



In addition, look for a processor, Payment Processing Services can provide you with an online tool to review activity and monitor transactions.

Contact Us


For more questions or queries, call us at 603-479-2259 or send us an email at: kent4b@comcast.net, Visit: http://creditcardandpayroll.com/

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