How Credit Card Payment Processing Works (cont.)
Contributed by Melanie Vannuys
Do I Need To Worry About Fraud With Credit Card Payment Processing?
Fraud, whether we like it or not, is on the rise. Whether it's credit card fraud, identity theft, or something else, September 11 changed the world for all of us.
With online fraud rates increasing, it's ever more important to be sure that your online store is secure. When you are choosing your credit card processing company, make sure that they have fraud prevention techniques in place.
When choosing your payment processor, ask them if they offer the Address Verification System, or AVS. The AVS will offer some protection by verifying the billing address of the credit card.
While customers expect the convenience of a quick website, you will still want to collect more than just their name, credit card number and expiration date. Explain to your customers that it is for their protection as well as your own that you require further information. If you have too many charge backs on your merchant account, the company may close the account.
