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