With the EMV shift now almost three weeks in, merchants need to be even more on guard to online fraud. With physical card present fraud becoming near impossible with the new chip, fraudsters will go where the path of resistance is least, unfortunately, that is currently online merchants. When a merchant gets hit with fraudulent orders on their website, the cost is more than just the money. It can take a toll on their confidence and make them question whether they should abandon their hopes at being an entrepreneur.
Consider these easy to implement techniques that will help eCommerce merchants to avoid fraud. Following these techniques will save you time, money, aggravation and help you avoid developing a bad online reputation. Having been in the eCommerce space for over 12-years, I have seen a wide spectrum of fraud on the Internet. Almost every case of fraud could have been avoided if the merchant had their payment gateway configured correctly. In most cases, the transactions are glaringly fraudulent; but the merchant is so thrilled to have a great order that they overlook the obvious signs and fill the order only to get burned. Here are my suggestions for avoiding online fraud.
Continue reading “Avoiding Credit Card Fraud”
