Fraud Prevention

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Card Not Present Transactions

In the past, if a customer did not have a physical debit or credit card on them, it would be nearly impossible to make a purchase. Not in today’s world. A customer can complete a purchase today without being physically present. This type of payment option is called a card-not-present (CNP) transaction. This type of transaction occurs when either the cardholder is not present or the credit card is [...]

Credit Card Chargeback Resolutions

Visa Claims Resolution Small and large business owners take note: In April of 2017, Visa launched Visa Claims Resolution (VCR), a new global dispute process for credit card chargebacks. With this process, Visa’s objective is to reduce timelines and bring simplification to the chargeback dispute process. The previous system was a litigation-based model, whereas the new process is based on a liability assignment model. Visa made this change because [...]

High Risk Businesses

A business is considered high-risk when it meets one of two conditions. The first is that it operates in an industry that is considered high-risk, or prone to health concerns or controversial practices. These types of businesses include software, health and wellness, travel and hospitality, legal services, financial services, gambling, anything adult-oriented, tobacco, and eCommerce. This is not a complete list, but it gives you an idea about what [...]

Preventing Credit Card Fraud

Credit card fraud is no joke; according to Forbes, merchants in the United States are losing approximately $190 billion a year to credit card fraud. Customers of banks lose around $4.8 billion, with banks themselves losing an additional $11 billion. The scale of this problem is massive, with credit card losses equivalent to the total annual energy spending in the USA (which is about $140 billion). This is the [...]

Card-Not-Present Fraud: a Scourge of E-Commerce

It was a revolution when we stopped having to sign carbon paper credit card slips. Then came the fateful day we no longer had to call the credit card company for authorization. As convenient as credit card transactions have become, cardholders are understandably anxious about the possibility of fraudulent transactions being made on their accounts. Buyers Being Wary Payment card fraud apparently only occurs in less than 1% of [...]

By |2017-11-14T15:15:01+00:00November 14th, 2017|blogs, eCommerce, Fraud Prevention|