Ecommerce merchants love the holidays. So do fraudsters.
Chargeback cheats and organized criminals know you’re
busy driving sales, fulfilling orders, and keeping
customers happy. They hope you are not as vigilant in
manually reviewing their orders.
To help reduce fraudulent purchases and chargebacks, it
may be worth using a fraud prevention service.
What Is a Fraud Prevention Service?
A fraud prevention service is a company dedicated to
identifying fraudulent card-not-present transactions —
i.e., ecommerce transactions — that will result in
chargebacks and lost revenue. It helps catch organized
account takeover attacks, purchases made from stolen
credit cards, and the so-called “friendly fraud”
chargeback cheaters, who purchase products using their
own, legitimate credit card numbers but then
fraudulently file a chargeback with the credit card
company after receiving the goods.
Courtesy: Bob Angus Contributing Editor, Practical Ecommerce