How to protect your online business from credit card... - Other Questions

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How to protect your online business from credit card frauds?

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Often when the term credit card fraud is heard, we think of individuals. No doubt, individuals suffer from identity theft due to credit card fraudulent practices, but these days, the credit card fraudsters are becoming bolder and do not hesitate in stealing away the reputation of businesses, particularly online businesses where payments are usually made through credit cards. As a result, business with credit card payment format is suffering from identity theft and reputation blemish issues.

It is important to understand that even the credit card fraudsters are becoming more and more organized and slick. Some of these have organized themselves to become “mafias.” But, your online business can be protected from these credit card frauds and avoid loss of inventory or money.

First of the all, the best way can be to believe in your gut feeling. If you are into online business, you will usually have customers making payments to your through their credit cards. Some customers do not realize that the credit card limit has maxed out and so they might provide you with other credit card number. In case, the customer is continuously giving you number-after-number, remember, it’s a red signal! Be cautious and best of all, inform about such a customer to your service provider.

Another way to protect business with credit card format is by asking the customers for billing zip code. Only the legitimate customers have this code and thieves or particularly international fraudsters do not have it. Also, another thing to remember is that you should never, on behalf of the credit card purchaser, wire the payment to shipping company.

Usually, when individuals suffer from credit card frauds, they lose the identity and money. But in case a business suffers from such a case, it loses money, identity as well as stock.  It is very important, particularly for the online businesses to be aware of such things in order to avoid loss of money and inventory. Also, the deals which might sound a bit “fishy” should be completely avoided. Most of all remain alert about your customers, as much as they remain alert against false websites.

While in an online business, it is it is very important that you should work on the “trust basis” but with certain points in mind. Credit card frauds are increasing considerably and so are the cyber crimes. So, make sure that your business remains protected against such crimes and frauds.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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