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News: Online Payment Fraud Approaching Rate for Stores, Study Says

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    News: Online Payment Fraud Approaching Rate for Stores, Study Says

    Online Payment Fraud Approaching Rate for Stores, Study Says
    Source: Internet Retailer

    "48% of online retailers say they their chargebacks for fraudulent purchase transactions is less than 0.1% of sales, matching the card-present chargeback rate experienced in physical stores, the Merchant Risk Council reports in its Fifth Annual Survey."

    Talking Points:
    Have you seen an increase over the past year in fradulent activity? What steps do you take to minimize fraud? Any tips to share with your fellow merchants?

    Our clients don't experiance much in the way of direct fraud...their biggest concern is getting hit for transaction fees when folks use their site as a "credit card number" checker. That is, they run scripts or manually try to process card numbers through their gateway. One client got hit with $3,000 worth of charges (talked them down to 1300...but still) before they knew anything about it.

    Installing <a href="">QwikGaurd</a> solved 99.9% of the problem.

    The key is that you never know this is happening until you get your Bill!!!
    Bruce Golub
    Phosphor Media - "Your Success is our Business"

    Improve Your Customer Service | Get MORE Customers | Edit CSS/Javascript/HTML Easily | Make Your Site Faster | Get Indexed by Google | Free Modules | Follow Us on Facebook


      We print out a pending transactions list from Verisign every morning. Anything that looks funny, high charges, multiple denials and then a success, etc. gets a second look.
      We also use OpenUI to put time-outs between multiple card attempts, and require CVV. Those two options have almost eliminated bulk card fraud completely.
      David Pontius
      IT Manager