Tips to Protect Yourself from Chargebacks

Written by Wall Street News on May 23rd, 2016. Posted in Card not present fraud prevention, Chargeback protection ecommerce, Payment gateway services

Ecommerce merchant account

People love paying with credit cards. For ecommerce sites, taking credit card payments is an essential part of doing business. Every 30 seconds, ecommerce sales generate more than $931,000 from desktop computers and add nearly $270,000 from mobile technology. The problem is that along with legitimate sales come fraudulent ones. Credit card fraud cost the global economy more then $16.3 billion in 2014. Credit card fraud costs the United States economy more than $8 billion each year. While it may be impossible to prevent every card not present chargeback, there are steps merchants can take to minimize their risk and exposure.

  1. Do what you can to verify the card. When people make online purchases, clearly they are not in the store and in front of a staff member with the

How Chargebacks Can Help You Battle Credit Card Fraud Right Away

Written by Wall Street News on February 23rd, 2016. Posted in Card not present fraud prevention, Ecommerce merchant account, Payment services

Credit cards payment system

People once predicted that cash would become obsolete and everything would be done with a swipe of a plastic credit card. Although cash is still around, credit card use is still on the rise, especially with the rise of online shopping. According to a Forrester Research survey conducted in 2014, online retail is supposed to hit sales of almost $375 billion in 2017 — up over a $1 million from 2012. However, as credit card use increases, so does the opportunity for credit card fraud. Studies have shown that six out of ten consumers are worried about credit card fraud when they make purchases online. Although retailers have made strides in ensuring secure payment for consumers and making sure that payment processin