Technology and fraud are so common. Frauds do come with them by default. World of payment is advancing technologically; it has increased possibilities for cardholders and merchants to connect globally.
Online and offline frauds are increasing rapidly, with each retailer losing at least $3 for every fraud they incur in the year 2014.
This was $2.79 in 2013, especially mobile frauds which are driving these costs higher each year.
How To Dump E-commerce Fraud?
It is a challenging task to entirely eliminate frauds, but necessary steps can be taken to ensure the network is secure. Security protocols, antiviruses, and firewalls can help protect against hacking attempts. Updating software problems ensure sensitive data of the business is safe. There are many ways to protect the business, here are some of them:
•Using encrypt transactions for confidential information.
•Ensure Login and tokens are changed on a regular basis.
•Customers to log into accounts before making a purchase.
•Increase awareness of fraud trends.
•Partner with payment processors who are verified.
•Policies for accessing confidential data.
•Security checks using antivirus programs.
• Signature for the goods: If you don’t know the customer, then it is better not to leave deliveries at the door of your customer. A signature is important, it can help prevent claims that state goods not arrived.
• Keep communication records: Keep records of communication because these can be used as a piece of evidence. Live chat sessions, emails, and other communication materials should keep a personal record to fight against chargebacks. You can claim that the customer was aware of the transaction and participated.
• Saving IP Address: If you keep a record of IP addresses, it will help a lot. It is usually on merchant receipt and can be used to challenge chargebacks as supporting evidence. For example, a person belongs to a certain town, and the IP address also belongs to the same town, then suspicion can be back on card owner.
It is a Bluff: You may face a situation where a customer demand refund stating that the card was compromised. If you have doubts about the validity of this claim then be polite, but make sure to mention they should contact the bank immediately because their card has to be deactivated. Ask that to send you a message once it has been done, and provide you evidence before refunding. If you have evidence such as IP address and communication, make sure to point it out.
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