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How to avoid penny auction credit card processing frauds?

Most of the persons who deal with credit cards and payments might have heard and experienced the credit card frauds. So, it is essential to seek the help of services which enables the users of the card to prevent credit card frauds. For all these reasons, it has become an essentiality for the merchants to protect themselves from the frauds with regard to the credit card. We give you some tools which will help you to prevent the card frauds. These tools are widely used by common men.

Service to verify the address – Address Verification Service or AVS is a widely used risk managing tool which helps the merchants to accept the transactions even in the absence of a card or the holder of the card. They can accept the transactions in the presence of the card even if the magnetic stripe fails to work in the course of sale. The merchants request an AVS directly thorough the card processors to the associations of the credit card in order to get the address compared. The ‘card association’ will get the billing address of the holder of the card verified.

Verifying the security of the card – This is a tool which collects the numeric code of the card which is given in the course of purchase. The request of the card verification is directly submitted before the associations of the credit card by the card processing companies. An evaluation is done on the safety value of the card against the value which is mentioned in the file of the issuer of the card. The schemes for verifying the card is done by Discover Card, American Express, Master Card and Visa.

Card authentication – Companies like Visa and Master Card provides services for the card authentication by allowing the issuers to get the ownership of the card holder verified in the course of purchases through internet. The security code of the Master Card is verified by Visa. By doing this the customers are assured that usage of the bank card through internet is safe and secure. The traders are also assured of safety as they are protected from charge backs from the card issuers on transactions. The transactions get authenticated by the banks and the merchants will be reimbursed. By doing this authentication, they assure the traders that they will not have to bear the risk of cheatings. These simple procedures ensure the safety of the trader as the identity of the card holder is assured.

Scoring of transaction – The risk managing firms merge technology with accessibility to the data bases of the third parties. They have human insight and they suggest the traders and give advice when a particular transaction gets challenged or rejected.

Verification of the age – The particular tool allows the international databases to get the age and identity of the issuer of the card verified quickly through the internet. This also helps to screen the frauds and meet the legal fulfilment. The merchants can collect the information regarding the user and get it screened to get the age and identity of the card holder verified. 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.