A high risk merchant will run into plenty of problems accepting credit cards. In fact, many merchant accounts will have a problem providing services to a business with fraud problems. Fortunately, one can follow these four tips and prevent credit card processing fraud problems.
Verify IP: Often, a criminal will use the Internet to buy products or services. One quick way to watch potential thieves is to track the IP address of every visitor. Fortunately, one can set this software up without trouble. Then, the company can see where and when a customer attempted to make a purchase. Remember, when a visitor comes from Russia and uses a credit card from California, it is probably fraud. With this basic system, one can catch a few criminals in the act.
Verify other information: Credit card processing is not always easy. When receiving an order, one must take a few steps to verify the information. Ideally, the company should ask for the full address and phone number of a buyer. Then, if there appear to be any problems, an employee should call and verify more information. Upon getting this information, a company can decide to cancel the transaction or send the product. One must remember that most customers will have no issue providing more information.
Automated: A smart company should automate their fraud alerts during the credit card processing part of the transaction. To set this up, a company should hire a qualified programmer who can create alerts on the Web page. This is a massive step for a business to take when they are tired of receiving dozens of fake orders a day. With an automated system, one can prevent a shipment from going to a non-billing address or can even ask for the CVV number of the credit card. Without a doubt, a company that can prevent problems at this level will save plenty of time and money.
Merchant accounts: When using a merchant account, one should do copious amounts of research. Ideally, the provider should take steps to prevent fraud and other problems. Remember, when choosing the merchant provider, one should look for one with a solid anti-fraud track record. Otherwise, the organization should look for a different provider who takes more steps to protect their customers.
With these four simple tips, one should prevent most fraud problems. Fortunately, one can carry out these steps at a business without causing aggravation to customers or employees.