Best Practices to Prevent Card Not Present Fraud

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Best Practices to Prevent Card Not Present Fraud

According to Visa, global e-commerce sales are expected to double from 2015 to 2019*. While this might be great news for your business, it also presents an opportunity for fraudsters. Visa’s Cyber Monday Holiday Bulletin recommends a layered approach to security as your most effective strategy:

In order to keep your payment data secure, Visa recommends you use a validated vendor that has been certified by the Payment Card Industry Data Security Standard. This helps you reduce your risk exposure for CNP fraud.
Ask for Card Verification Value 2 (CVV2) from the cardholder. Validation of a CVV2 code is a good indication that both the account and cardholder are legit.

Be on the lookout for these possible fraud indicators:

  • Ship-to and billing addresses that don’t match up
  • Request for an urgent delivery
  • An order with multiple orders of big-ticket items
  • Multiple cards used from a single IP address

Tewksbury Business: How To Close The Year Strong

The end of the year is a hectic time for all businesses, but this is especially true for small business owners. Whether you run an e-commerce business, a retail storefront, or a service business, the holiday shopping season probably makes up an important chunk of your yearly revenue.

To close out your business year with success, Quickbooks has an “End-of-the-Year Checklist for Small Businesses”. Here are a few highlights from the article:

Make sure your websites are mobile-friendly. Recent trends indicate that shoppers’ mobile devices are more and more a part of the shopping experience. They make comparison shopping quick and easy. From an easy-to-navigate layout for the mobile phone to overall load speed, you want to make it as simple as possible for your customers.

Use social media to reach and help build relationships with your customers as part of your holiday marketing strategy.
Take note of your inventory. You want to be able to offer your customers what they want – when they want it.

Acknowledgment: Article Is Compliment Of Elavon Merchant Account Company