FIS Modern Banking Platform
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Worldpay Editorial Team
July 24, 2019
Because physical cards are not swiped for these purchases and you don't have a face to face interaction, there are even more ways for clever fraudsters to capitalize on stolen card information. Let’s explore some of the ways that criminal activity occurs online and what your business can do to help prevent the fraud.
When thieves obtain credit card information like personal account numbers, expiration dates, and cardholder names, it can open the door for online payments fraud. However, there are steps your business can take to help deter the effects of simple card theft:
When fraudsters obtain a bulk of stolen credit and debit card information, they may try to distinguish those already reported to issuers by “testing” each card with low-ticket transactions from trusted businesses and organizations. Here are some steps you can take to help mitigate these attacks:
Card thieves can use stolen card information to purchase hard goods and then intercept them during delivery. To help avoid the costs of lost goods, merchant chargebacks, and refunds, consider the following techniques:
Your payment processor can help you with these methods and provide guidance on additional actions you can take to protect your business. There are a variety of strategies you can implement. Give us a call to discuss your options.
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