LINKS

"
THE LOWEST RATES...
MOST BUSINESS TYPES...
WE SAY YES WHEN
OTHERS SAY NO...
7 DAY APPROVAL...
NO HIDDEN FEES...

"

 
 
1.800.393.3230
 
 


   

FRAUDS AND SCAMS WITH NUTRACEUTICAL MERCHANT ACCOUNTS

We all know of the many fraudulent cases that have been reported in the early days. The frauds are considered as very intelligent scammers or hackers. Frauds are also called as a foul play in any business. The problem which arises in an internet merchandise business is scams and fraud. In the year 2002, $ 15 million was calculated as an overall loss due to the frauds and scams in merchant account. Fraudster can bring down any business to the defeated situations. Various rules and formalities between the merchant and the customers have to be followed while maintaining the merchant account. It should be considered seriously in order to prevent the risks. A merchant has to be very careful while making transactions with the customers and the customer also has to be careful with the merchant they choose to deal with.

In the recent times, the fraudulent activities are under the control of the internet banking system and many new techniques have emerged to prevent the risk. One of the examples of scam prevention in a merchant account is Authorize.Net. The Authorize.Net is an improved way of detecting a fraud case or scam while making the transaction between the customer and the merchants. It supports Authorize.Net Virtual Check through which a merchant can accept payments through electronic check. This system helps in screening process of any fraud and scams in merchant account. This system is supported under the Secure Sockets Layer (SSL) encryption. A merchant account holder can manage every card transaction with the help of these modern technologies in the banking sector. This system is very proficient in detecting any faulty transaction and dealings. The credit card is automatically scanned to check any foul play in the merchandise business using these modern technologies. The scanner checks for invalid email addresses, IP address of the internet network, credit card validation number and the expiry dates, background check, etc.

The merchant account holders are offered 128 bit protection of the SSL encryption through which the Authorize.Net Secure payment Gateway system processes the online checks. In the same manner, there are various branches of the Authorize.Net. HTML coding is mainly used as a tool for payment processing and posting. This is also called as Authorize.Net Basic. It monitors the merchant account transactions hence protecting it from scams and fraudulent credit/debit card transactions. There is a high risk of scam and fraud in any merchant account. Due to the online marketing system, the merchant and the customers are anonymous which means both the parties are not physically present face to face. The payment gateways make a safe as well as secure transaction.

The merchant also makes a foul play regardless of the customers with certain dealings. While availing a new merchant account, every little details regarding the merchant and the type of businesses he/she carries is important. A customer can easily check the available database of the merchant before proceeding with the dealings. In this way, both the customer and the merchant can remain on the safe side while doing business. Some of them have already been targeted as victims of such fraud and scam cases. Frauds and scams in merchant account can be made from the merchant’s side as well as the customer’s side. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.