If the card is visible to the merchant, he can inspect it for validity
and can also ensure that the card holder is genuine. However, none of the
regular checks can be performed for an online transaction. But there is no
reason to be disappointed, a long list of best practices and tools for
prevention of frauds can protect high risk merchant.
Follow the next steps, every time you need to verify the genuineness –
1. The Information of
the Transaction and Phone Number Needs To Be Verified
The merchant should call the customer and verify details of the
transaction before shipping out the goods. Most fraudsters will not be able to
verify the information on the form as they use a credit line to order at random
and seldom keep records.
2. Monitor Priority
Shipping Orders
Highly priced shipments with a request for shipping on priority may turn
out to be fraudulent orders. Since the criminal is not paying for it, he really
wouldn’t care about the shipping costs.
3. Repeat Customers
That Order Differently Need To Be Verified
Merchants recognize the buying patterns of repeat customers. If there is
any deviation from the regular pattern, it needs to be verified by calling the customer
directly.
4. Use the Address
Verification Service
By using the AVS, a merchant can easily compare the address on the
monthly statement with the one on the card issues records, before processing an
order.
5. Card Security Code
When in doubt the merchant should call the customer and check about the
three digit verification code at the back of the card. A customer who knows this
code, will also have the possession of the card.
No comments:
Post a Comment