Online Credit Card

5 Effective Tips on Preventing Online Credit Card Fraud

Jan 22, 2016

Avoiding credit card payment fraud is indeed a mammoth task for almost every business across the globe. Considering the losses such card frauds bring into the picture for merchants and retailers, it becomes a necessity to deploy preventive measures to stay relieved of such issues. Industry experts though consider credit card frauds as the most common form of online crimes, yet these need to be dealt with seriously.

Let’s take a quick look on some tips that would help you prevent online credit card fraud with major effect.

Take Extra Caution When Differences in Shipping & Billing Addresses Exist...
It’s a possible case of fraudulent transaction when the customer’s billing & shipping addresses are not same and on top of that the customer requests for expedited shipping. But this is not necessarily true every time as this may also occur in case of some customers looking to gift a product.

Ensure No Mismatch between Credit Card Address & IP location
Watch out for IP addresses that don’t match the credit card address used in a payment. It’s fairly easy to manually research an IP address. A simple way to counter this challenge is to restrict/block all IP addresses originating from those countries where shipping is not available from your side. Prevent such visitors from checking out through your website at the first place.

Suspicious email Account is Again a Red Flag...
A customer providing some suspicious e–mail while placing order is a clear indication that the order is a fraudulent one. It will provide a first-hand view of whether the order would be a fraudulent one or a real one.

Keep Log of Entered Credit Card Numbers...
Maintain a log of the instant whenever a customer looking to make a purchase attempts to enter a credit card number. Fraud is probable if number of attempts is five or more. Multiple credit card numbers may be deployed by fraudsters to process transactions and this is what you need to keep an eye on.

Deploy Fraud Profiling Service, if Required
Fraud profiling services are available these days for a reasonable price. Such service providers work by analyzing per-purchase behaviors besides cross referencing IP addresses; earlier purchases etc in order to provide you alert on high risk transactions.

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