4 Tips to Minimize Fraud for Your Online Merchant Account (part 1 of 3)

The act of fraud has moved beyond simply passing a bad check at the local grocery store and is now global in scope, which means business owners with an online merchant account need to know the best ways to protect themselves.

To make sure you are covering all aspects of your online business, it’s important to put in place key preventative measures that can help safeguard your merchant account.

Tips to Get Started

Secure a Geolocation by IP Address:
In the world of e-commerce knowing the specific geographic location of an online buyer is critical, and Geolocation by IP address can help. This tool enables you to pinpoint the location where the product is being purchased, and see if it matches with the billing address. This is also known as Address Verification Service or AVS. A Geolocation IP Address is also great for analyzing online orders overall, and getting a sense of what percentage may be a problem.

Verify that the Phone Number and Zip Code Match:
Often a merchant will discover orders with an invalid zip code. If a process is in place to verify this during the initial order, it’s easier to side step a fraudulent sale. Most online payment gateways will check the zip code and street address of the credit card you are processing to make sure it matches the billing address of the cardholder.  Also double check that a phone number is not just a Voice Over IP phone but an actual brick and mortar location or legitimate cell phone. Delay payment until a clear match of this information can be established.

Call to Confirm the Validity of a Credit Card:
If an online merchant has any suspicions about an order, its best to call the issuing bank and confirm the general account details. This will ensure the card is not stolen.

Verify the E-Mail Address:
Be aware of temporary, throw away email addresses. They are usually free, although not everyone that uses a free email account is fraudulent. It’s best to ask for additional information from these transactions just to be sure.

Contact Us

Need immediate assistance? Complete this form or call us today at 888-383-8056.

Recent Blog Posts 

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.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

Let’s Work Together.

At The Transaction Group, customer satisfaction is our priority. Allow us to show you what we can do for you.

Go to Top