Are Mobile Wallets Safer for Merchants?

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Are Mobile Wallets Safer for Merchants?

Mobile wallets are becoming a standard payment option for customers. When customers use their mobile wallet, there is a convenience factor for customers and a security factor for merchants. We will take a look at who is using mobile wallets, and how it benefits both customers and merchants. A mobile wallet is when an app on a smartphone, smartwatch, or tablet creates the capability to hold payment card information and make purchases in-store, in-app, or even … Read More

Using Billing and Shipping Address Mismatch as Fraud Detection

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Using Billing and Shipping Address Mismatch as Fraud Detection

Fraud prevention should be a priority for all merchants. By putting into place preventive measures, merchants can help retain hard-earned revenue and prevent fees caused by true fraud disputes. One of the routine checks that merchants make when verifying a purchase is to check if the billing and shipping addresses match for online orders. We will take a deeper dive into the pros and cons of relying on this method to validate purchases. One data point … Read More

How Mastercard SecureCode Protects Merchants from Common Chargebacks

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How Mastercard SecureCode Protects Merchants from Common Chargebacks

Mastercard introduced SecureCode as a way to protect ecommerce merchants and cardholders. We will go over how Mastercard SecureCode works, how merchants can implement it on their site, and how it protects merchants from fraud. Mastercard SecureCode is a program made to give cardholders, and online merchants added security at checkout. When a merchant has SecureCode as part of their checkout process, the cardholder will be prompted to type in a code, similar to a PIN, … Read More

Econtracts Are a Tool for Mitigating Disputes

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Econtracts Are a Tool for Mitigating Disputes

As cardholders can sign up for services and buy more items online than ever before, econtracts have become a necessity for some business. We will go over what “econtracts” are, what businesses they can benefit, and how they can help merchants win disputes. Econtacts are equivalent to paper contracts. The difference is that the contract is sent electronically instead of paper. Econtacts are used to outline terms and services among other information. Once it is signed … Read More

Today’s Fraudsters are Getting More Sophisticated – DataVisor Report

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Today's Fraudsters are Getting More Sophisticated - DataVisor Report

Understanding how fraudsters work and operate is essential knowledge for merchants. To stay one step ahead of fraudsters and to prevent fraudulent activities from happening requires knowledge of how fraudsters will attempt to gain merchandise or funds from the merchant. The DataVisor Fraud Index Report goes through how fraudsters are getting more sophisticated and the methods they are using. We will dive into those findings. In the DataVisor Fraud Index Report, one of the significant findings … Read More

What is Package Rerouting Fraud?

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What is Package Rerouting Fraud

Package rerouting fraud is one way that fraudster can steal physical goods merchandise while using a stolen credit card. This type of fraud leaves merchants with a true fraud dispute and the loss of merchandise. Package rerouting fraud is when a fraudster uses a stolen credit card to make a physical goods purchased. The fraudster will use the legitimate cardholder’s address to make sure the purchase gets past the front end fraud filters, but when the … Read More

Why Having Good Customer Service is Important to Prevent Disputes

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Why Having Good Customer Service is Important to Prevent Disputes

A recent Forbes article goes through the disputes do’s and don’ts for cardholders. The also explains the perfect reason why customer service is so important for preventing disputes. In this post, we’ll look at some motives behind customer disputes and expand on how great customer service can protect merchants. The Forbes article goes through three reasons when it is deemed “okay” for a cardholder to dispute a charge: There are plenty of reasons why a cardholder … Read More

What is the Visa Chargeback Monitoring Program?

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What is the Visa Chargeback Monitoring Program

The Visa Chargeback Monitoring Program is Visa’s way of monitoring merchants that receive excessive amounts of fraud or disputes. But this isn’t a program merchants want to be enrolled in. In this post, we will go over Visa’s two monitoring programs, how merchant’s get put on those programs, and how you can monitor your disputes. Visa monitors all merchant disputes activity. On a monthly basis, if any merchant has excessive disputes Visa will notify the acquirer. … Read More

Using Authorization Holds to Prevent Disputes

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Using Authorization Holds to Prevent Disputes

Using authorization holds is a common practice used by gas stations, car rental services, and hotels. There is a good reason for this. Merchants who use this practice effectively can prevent disputes, fraud, and refunds. Authorizations are part of the payment process that the customer never sees. When a customer enters in their card number online or uses it at a physical terminal, there is a series of parties and actions that take place to approve … Read More

What Is Account Takeover Fraud?

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What is account takeover fraud_

The cost of account takeover fraud tripled last year, reaching an estimated $5.1 billion in the United States. This type of fraud is costly and frustrating for customers and merchants alike. Account takeover fraud is when a fraudster obtained valid credentials to takeover an online account. After gaining access to the account, the fraudster is free to run wild pretending to be the actual account holder. This could include selling the account information to the highest … Read More