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. |