Credit Card Fraud5 Methods to Safeguard Your online business from Credit Card Fraud

February 27, 2019by Brian S0

A tricky situation often presents itself in the world of eCommerce. When a customer purchases goods online with their credit card, the automatic procedure which processes the order and starts the shipment cycle occurs rather quickly. This is for good reason — customers are already waiting the quantity of time it takes for the items to ship and arrive in their house, so any unnecessary wait must be removed to maintain them with the service.

However, when credit card orders are processed too quickly, the ability to confirm the data for fraud is basically non-existent. The order was sent out well before any fraud alarms are seen by the small business.

This Can cause some serious problems for companies where this occurs frequently. There is a good deal of fraud and theft claims processed daily, usually with large businesses and individual cases taking precedence over little eCommerce establishments.

Credit card companies are not actually obligated to explore the claim, so the help required to rectify the problem can be basically invisible.

Credit card fraud is on the increase in the united states. Personal credit card owners get a whole lot of assistance and protection from credit card companies, yet businesses don’t — if this is true, how do business owners protect their assets from being drained away via credit card fraud?

This Is good advice for companies which use over-the-phone credit card transactions, but also a fantastic reminder for any company using non-script run credit card input forms on their sites.

Be careful regarding the details you obtain

Whenever you Require a customer to enter their credit card information, always be sure they can offer all the information possible. On the telephone, be sure they can give the entire name on the front of the card and ask them to spell it to double check they are who they say they’re and/or they have the card in front of them. This number is quite important and should only be understood by the cardholder.

Also, Request address and phone number. If you’re suspicious of the address being wrong, also ask them to spell this. The actual cardholder should understand how to spell their road name perfectly.

Telephone the card-issuing company or lender and ask if they could speak to the customer and ask about the charge. This can help you to get the cardholder on your side and expedite the complaint procedure.

Be cautious of next-day deliveries

Not Each next-day delivery order will be fraudulent, but this is often a strategy credit card scammer use to receive the product they want quickly.

A scammer will either figuratively or literally present as a Business looking to get plenty of product quickly — they require a large order and they want it ASAP. This is a realistic situation in business and organizations where sometimes last-minute purchases are essential in the event of errors being made.

Double check any substantial or suspect Next-day delivery orders or any other kind of order that asks quick delivery. You’ll likely discover a good deal of legitimate card holders, but better safe than sorry.

Double-check address gaps

Credit Card scripts frequently check the data submitted in “bill to” types — this ensures that the credit card address on file matches the billing information provided by the customer. They do not, however, check the delivery address.

Sometimes clients legally want packages shipped to another place, but other cases of this occurring are thieves who wish to blow past the address confirmation whilst still obtaining the merchandise sent to their residence.

Verify, confirm, validate

It Might be near impossible when processing orders online but try to do whatever you can in your ability to confirm credit card orders until they are sent. Phone scammers may be scared away if you ask them to get further information found on other types of ID, such as their driver’s license or faxing a scan of their credit card. If you think it may protect you from potential scams, use due diligence and reevaluate those methods.

Take quick action

Do not let them get away with it. While fighting with the credit card company and receiving justice may be an uphill struggle, particularly for small eCommerce shops, put in the effort to make the situation right. Remember you could also be responsible for some fees if the credit card holder disputes fees, so finding the offender is important to staying afloat. Report the crime to the authorities and get the credit card company or the bank that issued the card to alert the customer.


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