Credit Card Fraud Prevention
Merchant account fraud protection is our top priority as High Risk Payment Pros. We make sure all of our clients are securely protected against fraud, theft, or any scams. Payment Pros has savvy technology to prevent fraudulent transactions and unreasonable chargebacks to occur. Our merchant account managers take every precaution imaginable to ensure the safetly of our customers against fraudsters and credit card scams. Payment Pros has skilled and knowledgable underwriters to get ahead of the game and prevent this kind of activity. Our goal at Payment Pros is to help our businesses feel confident in our services and protection.
If an online business does not have reliable fraud protection it will eventually lose a huge amount of profits. Fraud has varying degrees, for example, some fraudulent acts have the intent to get products without paying or to get unauthorized funds from an account. Fraud prevention is a vital component for any online and eCommerce business. Theft and fraud have increased steadily throughout the last few years. This is predominantly due to a skyrocket in companies taking their business purely online. More often than not the transaction value is incredibly high, therefore causing a more significant financial loss. High-Risk Payment Pros has designed high-quality detection avoidance systems and fraud prevention services to completely relieve your online business of stress and worry.
What is Credit Card Fraud? How do I secure eCommerce fraud protection for my online business?
So you might be wondering what credit card fraud is? How to avoid it and what to do once theft or fraud occurs? Well, High-Risk Payment Pros has got you covered. Theft and fraud is another term for the deceptive source of funds in a trade. At High-Risk Payment Pros we have the top fraud prevention experts that will provide you with the best merchant account solutions. It is important to know that these fraudulent issues have nothing to do with a bank that is connected to the business. If a customer demands a chargeback, a refund is issued immediately. However, it's the merchant’s responsibility to refund the consumer, not the banks. If a company has zero standard security measures then the transaction will be far less reliable and profitable due to the high risk of eCommerce fraud and theft. Standard security measures include clients paying with a chip reader card and checking valid identification. The United States Federal Trade Commission has conducted research that states the rate of identity theft has steadily increased each year.
These steps are so important to the survival and longevity of a business. It is imperative to have credit card fraud prevention, especially when dealing with high-risk merchant accounts. High-risk transactions have more occurrences of credit card fraud and theft than any other industry. Most credit card fraud has targeted large-value trades, therefor having a larger negative financial impact. If you’re looking for fraud and theft protection solutions you have come to the right place! At High-Risk Payment Pros we fully secure all our clients with eCommerce fraud prevention. We have the leading technology that has been implemented to prevent fraudulent cases. So apply today to get your merchant account and never have to worry about fraudulent transactions again!
Types of Credit Card Fraud
There are many different types of credit card fraud. We have discussed the card-not-present (CNP) type of fraud, however, the list goes on from there. For example, counterfeit and skimming fraud lost and stolen card fraud, false application fraud, and card-never-arrived fraud. These are just a few different ways credit card fraud and theft transpires. Consumers and retailers can fall victim to these deceitful acts and it is important to know what to do when this happens. Card fraud is a whole industry, a billion-dollar corrupt business. Within the last year, there have been billions of fraudulent charges. This is not a small precaution to take, it is critical that as a business owner you thoroughly check all the boxes when it comes to credit card fraud.
Are Merchants Liable For Credit Card Fraud?
The world of online trade is growing daily. It is almost mandatory in this day and age for a business to accept online card-not-present type payments. Customers favor this type of payment and would choose buying online versus in store the majority of the time. The convenience and availability with online orders makes shopping simple for consumers. People love being able to access eCommerce right from the comfort of their couch. You might be wondering what sets these two types of payments apart. Well, a card-not-present transaction means that the card holder is not physically present during the transaction.
Therefor, there are limited means to verify the identity. If your business is profiting from online sales it is important to have credit card fraud prevention before your business is up and running. The issuing or accquried bank is not liable for any fraudulent transactions, this is merely the retailers responsibility. That can cause a lot of tension for the business owner. As the business owner you must understand the liability. Too many retailers are uneducated on their duty to examine their online purchases closely to weed out fraud and theft. Fraud prevention should not be overlooked, when dealing with purely online credit card payments there must be a safeguard for businesses so they can avoid these problems.