Reduce Credit Card Fraud

The past year has been marked by many significant eCommerce changes. An unprecedented number of new online users have created both a greater risk for fraud and a powerful potential for more revenue. Companies must prepare now to prevent an impending wave of fraudulent credit card activities.

One way to reduce fraud is to ensure your security settings are correct in your payment gateway. It is important for eCommerce managers to understand that the proper settings can go a long way towards preventing fraud and attacks. Too many card declines are harmful and can result in a “high risk” label, which can lead to increased fees and other negative consequences. Also, bots overloading your site that eventually will cause legitimate customers’ transactions to time out and fail.

There are a few steps you can take to help protect your store from fraud. One way is to turn on AVS and CVV matching requirements in your online payment gateway. While you’re adjusting the settings in your payment gateway, you should also make sure your authorization decline message isn’t conveying any information that could be useful to the fraudster.

The majority of fraudulent attempts originate from outside the United States, so this is another possible area for concern, especially if you don’t sell your products internationally. eCommerce managers may also want to adjust their payment gateway settings to block multiple orders from the same IP address within a short time frame to help prevent credit card testing.

If you have any questions in regards to the settings in your payment gateway, contact your payment gateway or Starkmedia today.