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HOW TO PROTECT YOUR PENNY AUCTION E – COMMERCE WEBSITE FROM FRAUD?

Why are consumers scared to shop on the net?

The main reason is Fraud. Today, starting an online business and making money is extremely easy as there are many opportunities that are available on the net. However, the biggest problem faced by most e – commerce site owners is Fraud, these days. Consumers will not shop from your online store unless you give them some solid proof that your site is safe and secure from hackers and fraud, keeping their information safe. Fortunately, there are several protective measures which can be taken for the purpose of preventing your e – commerce website from hackers.

Fraud Detection Service

Fraud Detection Service will help you verify whether the person keying in the credit card details is the true owner of that credit card. Though it is useful, this service will not completely eliminate fraud on your website, but help to reduce it substantially. Let’s have a look at how it works.

The detection service makes it mandatory for the customer to enter the address and then, compares it with the one in the file of the credit card holder that is with the credit card issuing bank. If there is a match, the transaction is processed further. But, if there is no match then the transaction will either be put on hold or it will be cancelled. Due the fact that several addresses are available online, a well informed fraudster will bypass this mechanism. This service is good because it will reduce the chances of fraud by a great extent.

CCV or Credit Card Verification Codes

This code is found next to the signature on the back side of any credit card. You have to key in these numbers whenever a consumer purchases on the internet. This makes it difficult for the fraudster as he should also possess the credit card to make purchases on the internet. This service reduces the risk of fraud by a great extent because credit card details are mostly stolen from the internet not from the actual credit card. Of course, a person may steal your credit card and use it to make purchases but this scenario is unlikely to happen as people will cancel their credit card as soon as they realise that it is lost.

Website Design

Though “fraud detection service” is very effective, it should be paired with a sound web site design which further limits the possibility of fraud. The ecommerce website should be designed using the advanced versions of programs and scripting languages to fight against fraudsters and maintain the integrity of the website. You will have to spend some extra money to protect your website from fraud, but it will give you good returns in the long term.

It is always better to have some knowledge about the dangers of online frauds before developing an e – commerce website. This knowledge will help you find better and more advanced methods to protect your website and customers from internet fraud. 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.