Helpful Tips For E-commerce Businesses To Avoid Scams

An e-commerce business offers a lucrative opportunity to budding entrepreneurs to make good money

. It is easy and quick to set up and requires little capital investment. But, before you start, you should make yourself aware of the different e-commerce frauds and learn techniques to avoid them.

From Masterplans complaints, it is clear that credit card frauds top the list of e-commerce scams. So, your first aim should be to insulate your business from fraudulent credit card transactions. There are various ways in which you can avoid credit card frauds. First, you should use only secure payment gateways. Though it may cost you a little more, do not compromise on security features like SSL (Secure Socket Layer Encryption), which keeps all sensitive data of your customers safe from hackers, and a credit card verification system that follows a series of steps to accept or reject a card transaction. By using a safe and secure payment gateway, you can greatly reduce the chances of credit card frauds, thereby reducing your losses and improving your customer confidence.

You should have proper systems and policies for identifying fake credit card transactions. For instance, you should verify all high-value transactions carefully. Scammers who buy using stolen cards usually make purchases of higher amounts in order to make bigger gains. Simply by calling the cardholder to verify high ticket purchases will help you avoid such scams. Also, if the billing and shipping address are different, you should verify with the cardholder whether they have bought from you or not. It may be a gift, but scammers also use such techniques in order to buy merchandise through stolen cards. If you get multiple orders from the same person in a short period of time or you get orders of the same product in huge quantities, you should get cautious.

You can easily reduce your losses on account of scams by defining and implementing proper systems. Remember, it is not just about profits and revenues; if your e-commerce website is not safe, customers will not trust you, which eventually will affect your brand.

Because e-commerce scams are on rise, it is better to exercise due precautions to keep your business safe from scammers. Masterplans complaints indicate that the e-commerce industry faces huge losses every year on account of online scams. By having a secure trading platform and systems for checking scams, you can greatly reduce your risk and concentrate more on your core business issues.

by: John Brad

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