Tip For Preventing Ecommerce Credit Card Fraud

Today, every person needs to be extra careful either he uses a credit card for payment or he accepts payment of his ecommerce store via credit card

. Simply, both credit card holder and merchant need to be cautioned as ecommerce credit card fraud has been rising since last decade. Today, I am going to highlight some tips for merchant and card holder with the help of which they can prevent credit card fraud online.

5 Tips of preventing Online Credit Card For Card Holder

1.Always keep your credit card in a safe location. You should not give the PIN number of your card to your acquaintances, siblings, relatives.

2.You should try to keep your card away from your colleagues and other workers in the office. Never leave your wallet or bag in your office.

3.Try to track every transaction of you credit card weekly. If you find any discrepancy then immediately call your bank for resolving the issue. Some people ignore a small withdrawal amount from their cards which is not the right way. You should carefully investigate every suspicious transaction because it is the best way of preventing credit card fraud on the internet. Your bank will be happy to block your card until they find that your charge is legitimate.

4.You should save the number of your bank's customer service in your cell phone so that you can immediately contact service center if your card lost or stole by some person.

5.You should response to your bank's inquiry call which is made to confirm a suspicious charge or transaction. It is possible that someone gets the number of your card and tries to make a big purchase via it. Your bank will immediately inform you about such transaction and it is your duty to validate or invalidate such transaction.

5 Tips For Preventing Merchant Credit Card Fraud

A merchant can avoid a fraudulent transaction if he follows these five simple tips.

1.He needs to use AVS and CVV/CV2/CVC where possible so that he can easily detect any credit card fraud online. Card verification process will be simplified with the mean of it.

2.Don't accept an order from free email address or a fake name or Phone number.

3.If you have any doubt about customer, immediately demand additional documents from him. For example, you can demand a signature invoice via fax or you can also want a print copy of customer's driver license.

4.You need to be more careful when customer's shipping address is different from billing address or when a customer requests the shipping to the same address while making order from different credit cards.

5.The best way to avoid credit card fraud merchant is to go for BIN Database (Actually, it is software which has the database of a large amount of BIN from all our world. BIN is Bank identification number and it comprises of first 6 digits of a card. When you enter these digits in the software then you are able to know whether bank is valid or not. In this way you keep yourself away from any ecommerce credit card fraud.

by: Gen Wright

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