_Protecting Your Business against Credit Card Frauds
Credit cards have changed the way economy flows and selling businesses work. They have given way to many different technologies and schemes. People buy and sell products just by using a plain card with a magnetic strip, which holds everything you want or have. The Internet has made things all the more easier. Many entrepreneurs start e-businesses in the wake of advanced .com technologies. Setting up an online business is very easy, though protecting it from online scams and frauds is a bit difficult.
Credit card frauds are the most common scam issues that affect online businesses. If you are in the business of selling services and products online, then it is important that you guard and protect it from credit card frauds. In the last few years, a large number of masterplans scammers have come into play. These scammers prefer targeting businesses rather than individuals, to make big gains in a short space of time. Huge number of complaints against online credit card frauds shows the gravity of the situation. With a sharp increase in masterplans complaints, the modus operandi of scammers has become more crafty, and difficult to break.
If your business unfortunately becomes the target of such frauds, then you not only end up reversing the charges of customers, though also pay charge-backs to credit card companies due to fraudulent transactions. Such online scams affect your credibility and dent your profits. Some proactive steps should be taken to stop the scammers from maligning the reputation of your business.
Implement an address verification (AVS) and card code verification (CCV) system for your online business. Have a dedicated team in place to locate suspicious transactions, such as the purchase of big-ticket items, bulk purchases, orders that have shipping addresses different from billing addresses, and orders from foreign locations. Adding additional steps to online transactions and sending follow-up emails can also help you avoid scam, or frauds. Modern online authentication systems, in which one-time passwords are required for making transactions on non-verified websites, are helpful in handling lost credit card frauds. Every time you suspect a fraud, you should call the credit card holder to verify the transaction. Although all the sales you find suspicious may not be fraudulent, it is always better to exercise caution than to regret later.
Given the scammers are smart and use masterplans that are difficult to track, it is best that you work towards developing a foolproof .com venture. If you receive any masterplans complaints from customers regarding the misuse of credit cards, then you should look into the matter carefully to avoid further similar problems. You should also hire a fraud protection service to insulate your venture from credit card frauds.
Apart from safeguarding your own systems, make your customers aware of several phishing, vishing, and pharming threats. Send them information about how credit cards can be used safely for online transactions. Inform and ask them about any suspicious transactions through their accounts. Advise them to use virtual keypads while doing net banking, and to change passwords often. Suggest them to check their online transactions carefully when they receive their bank statements. Warn them about common fraud masterplans and related complaints. Use of legitimate payment modes, and awareness of related scams can help you avert many different online frauds.
Credit card frauds are the most common scam issues that affect online businesses. If you are in the business of selling services and products online, then it is important that you guard and protect it from credit card frauds. In the last few years, a large number of masterplans scammers have come into play. These scammers prefer targeting businesses rather than individuals, to make big gains in a short space of time. Huge number of complaints against online credit card frauds shows the gravity of the situation. With a sharp increase in masterplans complaints, the modus operandi of scammers has become more crafty, and difficult to break.
If your business unfortunately becomes the target of such frauds, then you not only end up reversing the charges of customers, though also pay charge-backs to credit card companies due to fraudulent transactions. Such online scams affect your credibility and dent your profits. Some proactive steps should be taken to stop the scammers from maligning the reputation of your business.
Implement an address verification (AVS) and card code verification (CCV) system for your online business. Have a dedicated team in place to locate suspicious transactions, such as the purchase of big-ticket items, bulk purchases, orders that have shipping addresses different from billing addresses, and orders from foreign locations. Adding additional steps to online transactions and sending follow-up emails can also help you avoid scam, or frauds. Modern online authentication systems, in which one-time passwords are required for making transactions on non-verified websites, are helpful in handling lost credit card frauds. Every time you suspect a fraud, you should call the credit card holder to verify the transaction. Although all the sales you find suspicious may not be fraudulent, it is always better to exercise caution than to regret later.
Given the scammers are smart and use masterplans that are difficult to track, it is best that you work towards developing a foolproof .com venture. If you receive any masterplans complaints from customers regarding the misuse of credit cards, then you should look into the matter carefully to avoid further similar problems. You should also hire a fraud protection service to insulate your venture from credit card frauds.
Apart from safeguarding your own systems, make your customers aware of several phishing, vishing, and pharming threats. Send them information about how credit cards can be used safely for online transactions. Inform and ask them about any suspicious transactions through their accounts. Advise them to use virtual keypads while doing net banking, and to change passwords often. Suggest them to check their online transactions carefully when they receive their bank statements. Warn them about common fraud masterplans and related complaints. Use of legitimate payment modes, and awareness of related scams can help you avert many different online frauds.