In today’s digital landscape, it becomes necessary for online retailers to accept credit cards if they want to thrive and keep up with their competitors. Providing a way for your customers to pay with plastic shows that you care about their convenience, you’re flexible in your payment options and you stay abreast of the latest technological trends.
Profits are the lifeblood of a business but incurring a series of deceptive chargebacks can quickly drain that blood. As a merchant, you want to believe the best of your customers so you may mistakenly think that your company is fool-proof when it comes to cyber crime.
As a business owner, you’ve worked hard to open your doors. You’ve taken out business loans, developed goods and services that you’re proud of and have done the necessary marketing and advertising to spread the word about your company. In spite of your best efforts, you may find yourself having to deal with deceptive consumers.
“Fraud” is a word that makes many business owners cringe. Even if you don’t want to think about the realities of theft, you have to be smart about the way you do business or you risk getting taken advantage of. Whether most of your transactions are performed online or you have an actual brick-and-mortar shop, you need to have safeguards in place to prevent against deceptive...
By Melody Lashmar - Quickly! Can you find your customer support number? How about an email address? Can you navigate your website to find the information you would need to question a transaction or cancel a membership or seek a refund?
If you can't find these pieces of information easily, you can be sure consumers who were billed by you can't find them either.
Providing this...
By Melody Lashmar - Data, Analytics, Cross Platform Validations, Mobile. These disparate areas are all converging in the effort to thwart fraudsters and the transactions which they initiate.
It wasn’t that long ago that banks were completely segmented in their operations, management and platforms that were responsible for performing the various functions of the bank. As...
It was only a matter of time before innovative payment companies would be stifled by regulators in the USA. A few years ago, while attending the NACHA Payments conference, they had the founders of Square share their vision and then those gentlemen took some pretty intense questioning from the banking experts. After the session the conversations that I heard centered around that...
By Melody Lashmar - Issue 4: merchants must bear the responsibility for addressing this fraud as there is no incentive for anyone else in the chain of the transaction to take corrective action.
It is time for the regulators and card associations to return some balance to the networks. If the card associations and regulators can tout setting chargeback ratios and penalties for...
By Melody Lashmar - Issue 3: Online purchasing is targeted by fraudsters with computer programs to find and use card numbers.
By Melody Lashmar - Issue 2: Consumers lie and steal at a rate that easily surpasses the restrictions for fraud placed on merchant accounts.
