Archive for Online Payments
Accepting credit cards as an online merchant has its inherent risks. And while sooner or later, you will get scammed, its important to keep it in perspective. Your business will need to take credit cards to be successful online. The goal is to keep your fraud percentage as low as possible. In fact, you will need to do so, or your merchant account processor may freeze or suspend your account. New merchants (or those with a new web urls) should be especially cautious since scammers often target new merchants. They can estimate how old your site is by looking at your domain registration date. Read more... (199 words, estimated 48 secs reading time)
Payment Card Industry (PCI) Data Security Standard (DSS) is something that every merchant who accepts credit cards needs to know about. Failure to adhere to the standards can expose you to significant financial liability as well as have your merchant and gateway accounts shut done.
The PCI security standards are a blanket of regulations set in place to safeguard payment account data security. Essentially, they define the best practices for storing, transmitting, and handling of sensitive information over the internet. Compliance is mandated by the payment card brands (Visa, MC, Discover, etc) and not by the PCI Security Standards Council. The standard is set by the PCI Security Standards Council. Read more... (327 words, estimated 1:18 mins reading time)
I just updated our 6 part introductory tutorial on the practice of accepting credit cards. We still have some tweaking to do, but the basics are out there including a new video animation of the process. The tutorial can be found here: Credit Card Tutorial
If you prefer just a quick overview, check out our video animation found here: Credit Card Acceptance animation Read more... (99 words, estimated 24 secs reading time)
Here are some common red flags for fraud detection. While not inclusive, this should give you a start when it comes to identifying fraudulent orders:
1. Order total is over $300.00
2. High street value items (Digital Cameras, MP3 Players, etc)
3. Different Ship To/Bill To address.
4. CVV failure (Card Verification Value)
5. AVS failure (Address Verification System)
6. Free Email Account (Yahoo, Hotmail, Gmail)
7. Ordering multiple identical items
8. Express shipping
9. Items going to gateway areas such as border towns
10. Phone number does not match the Bill-To State
11. Multiple orders for the same customer with different IP addresses Read more... (144 words, estimated 35 secs reading time)
