Tips on Preventing "Card Not Present"" Payment Frauds
By Jason Simms
In face-to-face transactions, the merchant may inspect the card to ensure whether it’s valid or not. There are also ways to verify whether a cardholder is an authorized user or not.
However, if card is not present at the time of transaction verification becomes tricky. It happens when payments are made online or accepted by mobile. Below are some useful precautions that can help high risk merchants prevent payment frauds in the absence of a card.
1. Verify contact number and transaction details: Do not ship your product until you have verified the buyer’s phone number and the transaction information.
2. Analyze shipment request: Too costly shipment request could indicate a fraudulent attempt. If the buyer is not bothered about hefty shipment cost, make sure you double check his details to prevent fraud.
3. Observe patterns of repeat customers: Validate orders of frequent customers. If their shipment or billing address deviates, or every time they place order from a different IP address, it might indicate payment fraud.
4. Avail Address Verification Services: Make use of Address Verification Service (AVS) to verify if the address, contact and the transaction information of the past customer has been deviating.
5. Verify Card Validity: You can verify that the customer possesses a valid card during card-not-present transaction, through card security codes like CVV2, CID etc.
6. PCI Compliance: The merchant has to be compliant Payment Card Security Data Security Standard (PCI DSS). The PCI compliance maintains data security management, policies, procedures and other security measures.
About the Author
|
| Jason Simms, Amslv.com 1722 E. University, Suite 3 Las Vegas, NV 89120 8552678472
Contact Author: request info
If you would like to re-print this article, please contact the author.
|
|
|
|
|
|
|
|
|
|
Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.
|
|