4 Tips to Minimize Fraud for Online Merchant Accounts (part 2 of 3)
Continuing the topic of fraud from the previous blog post, we are covering additional safeguards for online merchant accounts that are useful in protecting against fraudulent consumers. These measures are even more important during the holidays when merchant accounts are at higher risk, especially with people looking to cash in on cyber deals.
4 Tips to Get Started
Use Extra Care with International Orders:
Anything being shipped to an international address should be double checked, especially if it’s from a high fraud country. According to a ClearCommerce survey, there are 12 countries that are considered high-risk, a few being Egypt, Turkey and Malaysia. Their research showed that although sales outside of the United States only represented 17% of the sample study, they accounted for over 42% of all fraudulent orders. Some merchants I know that take international orders will have the cardholder fax or email them a copy of their ID and credit card so they know they are dealing with the cardholder and they have the physical card on their person.
Double Check Country IP Address Against Billing Address:
This can be managed using an address verification system (AVS), mentioned in the previous blog post.
Check for Anonymous Proxy Servers:
A consumer using a stolen credit card may be able to hide their actual IP address by using a proxy server. Proxy servers allow people to browse the Web anonymously, and due to the fact these addresses change frequently, they can be hard to detect consistently.
If you feel your internet merchant accounts may be at high risk from this type of shopper, it’s important to employ strong IP and server detection technology. This technology will help you avoid the guessing game when reviewing orders, and ensure the anonymous proxy server list is automatically updated.
Always Send a Confirm Email:
Use an auto-generated email to confirm a sale and test the validity of an email address, as well as to verify the details of the card holder’s order. Be sure to keep track of order decline rates, especially if they are declined by the card issuer or because its considered to be a fraudulent international order. If the merchandise was back-ordered and has to ship more than seven days after initial authorization, be sure to obtain a secondary authorization.
Need immediate assistance? Complete this form or call us today at 888-383-8056.
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Are you shopping for a better rate? Let us save you money!
Most merchants are unaware that interchange rates are adjusted as much as 2x per year. Over the course of several years, those adjustments can hike up a merchant’s rate and cost the merchant thousands in processing fees. Contact us via the form above, or call us today at 888-383-8056. Chances are, we can save you up to 25% over your existing rates and fees!
Why do businesses choose to work with The Transaction Group?
- We aim for 100% customer satisfaction. We understand that the customer comes first. At the end of the day, if the customer is not happy, we’re not happy.
- We offer a FREE rate analysis to every business. In most cases, we can save a business up to 25% on existing rates and fees. But if we can’t beat a customer’s rate, we’re upfront from the start. We don’t waste the customer’s time.
- We are reliable and always available. If a customer has any concerns, we’re available even after business hours. We’ll address any issues immediately.
- We don’t believe in one-size-fits-all.We provide solutions based on the specific requirements of each and every business. What’s best for one small business may not work for another.
- We have a fast & easy setup process. In most cases, we offer a fast and easy approval and set up. While some high risk businesses can have longer underwriting times, we keep the customer informed throughout the process and work for fast approvals.
- We have solutions for every business type. From low-risk card-present credit card processing solutions to payment processing solutions for high risk e-commerce stores, we’ve got it all.