When you’re running a business that relies a lot on e-commerce, you don’t just need to have a secure payment processing solution and a secure payment gateway — you need to make sure that you’re protected against card not present chargebacks, because just one major chargeback can be enough to run your business into the ground.
But what exactly can you do to enhance your merchant chargeback protection in a card not present environment?
- First, it’s definitely important to have the basic equipment and software that allows your customers to make secure transactions through the internet. This point is probably pretty obvious, but it’s important enough to bring up anyway!
- Making sure that you and your employees are well-trained on the equipment is the next step. It’s essential that you know the warning signs of fraudulent charges so that you can take proactive measures and confirm the transaction before actually processing the payment.
- Even though you can’t control security measures as much over the internet as you can in the store, there are still ways to make sure that customers are making valid purchases. Requiring security codes, for example, is a simple but effective way to make sure that customers are paying with a credit card or debit card that they actually have in their hands. This security code is found on the back of credit and debit cards, is three or four numbers, and is often not as easy for cyberhackers to find.
- A payment verification program is another great way to make sure you’re giving your customers secure methods for card not present transactions. This type of software will verify that the card being used is valid and it will deny the transaction if there are any red flags. Ultimately, this is a way to supplement your basic payment system and is one of the best ways to protect your business against chargebacks.
Now we want to hear from you — if you operate a business and you make transactions online, what do you do to keep your business and your customers safe?
