How to Protect Your Online Business From Credit Card Fraud

Stolen or false credit card numbers and a lack of person-to-person contact can make online credit card transactions vulnerable to fraud.

Difficulty: Moderate

Instructions

Things You'll Need:

• Accounting Services
• Credit Reports

1. Articulate a clear return policy, visible on your site.

2. Write and display a disclaimer on the site, stating that the customer agrees to charges and will pay them. This statement does not mean that a customer cannot dispute a charge (make a chargeback).

3. Ask customers for shipping and billing addresses. This information can assist credit card issuers when tracking down fraudulent activity.

4. Send products via a national shipping company to avoid customers saying that they never received your product. These companies offer tracking on every package sent, and you can get delivery confirmation online.

Tips & Warnings

• Check out sites such as No Chargebacks for a database of credit card numbers that are frequently used in committing credit card fraud.
• There are companies that assist with billing, but their services can be costly.
• If you are wary of any charge, contact your merchant bank with the credit card number in question and ask for assistance in verifying the account number and address.
• If you process orders through another merchant's account, that merchant doesn't have to send you the payment.
• If a merchant receives too many chargebacks, its bank reserves the right to cancel its account, meaning that the merchant can neither accept nor process credit card charges.

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on 1/25/2006 Make sure you have copy of the policy with a checkbox that says "I agree" and that the consumer cannot proceed without checking the box.

If the 'bill to' and 'shop to' addresses are not the same it is very difficult, almost impossible to win a fraud charge back.

on 11/22/2005 To confirm ship/bill match on MC,AMEX,Disc., you must call them. Even if you get match AND signature, you are not protected from charge-back -- and bank will not cover loss. Accept risk before you ship. Consider check-by-phone, with no charge-back risk.