Credit Card Fraud Prevention

Credit card fraud can take on many forms, from stolen or lost to someone obtaining a credit using false information. As a merchant, you are liable for any fraudulent transactions that occur through your website, it is therefore vital you select a payment processer that provides extensive credit card fraud prevention services.

Most payment processors utilize a number of prevention methods in order to reduce fraud. These include:

    • Address Verification Services – Verification of the billing/shipping address used for an online purchase against that of the     card issuer (such as VISA/Mastercard) information for the cardholder.

    • Card Security Code checks – CVV, or Card Verficiation Value codes, are used for transactions where the card is not                 present – such as over the internet. The code is used to verify that the customer possesses the card, not just the card                 details.

However, top payment processors will also provide live transaction screening services and an array of fraud prevention tools that you as a merchant can use to minimize fraud (such as, blocking transactions from a particular location).