When processing card-not-present transactions, it is crucial to implement measures that help prevent fraud. Here are some handy tips to consider:
Reliable Channel for Card Details:
- Ensure that you obtain card details through a reliable and secure channel. Avoid accepting card information via unsecured methods such as email.
Verify Source of Information:
- Always verify the source of the card details. Check that the email address or phone number providing the information is not listed in any scam databases.
- Research your customer and validate their identity through additional checks if necessary.
Be Aware of Red Flags:
- Be cautious of unusual purchasing patterns, such as high-value orders or multiple orders in a short period from the same customer.
- Monitor for discrepancies in the billing and shipping addresses.
Use Secure Payment Methods:
- Encourage the use of secure payment methods like Payment Requests, Payment Tags, or PayLinks, which provide an additional layer of security compared to MO/TO transactions.
Keep Records:
- Maintain detailed records of all transactions, including communication with the customer, to provide evidence in case of disputes.
Training and Awareness:
- Train your staff to recognize and handle potentially fraudulent transactions. Ensure they understand the importance of following security protocols.
By following these guidelines, you can reduce the risk of fraudulent transactions and protect your business from potential losses.