Credit and Credit Solutions

Merchant concern about online credit card fraud and chargebacks
is rising at a significant rate. According to the 2001 Online
Fraud Report, conducted by Mindwave Research, it revealed that,
"41% of merchants say the issue of online credit card fraud is
'very serious' to their business." As e- commerce continues to
flourish the number of instances of credit card fraud and
chargebacks will continue to mount higher. It should go without
saying that the need to take certain measures to reduce and
virtually eliminate chargebacks and fraud is certainly paramount.

Credit Card Debt Solution Here are some ways you can greatly reduce the instances of
chargebacks and fraud, even potentially eliminate the risk
altogether:

When a chargeback occurs, we have to cancel the disputed account with UK2 and any products on that account e.g. Domain Names We also have to contact the customer's credit card company and the authorities, and also submit the dispute credit card to the Central Chargeback Database. Please note that this could make it hard to use that credit card elsewhere, because chargeback's are commonly associated with online fraud.

Home Equity Line Of Credit #10 Interactive Voice Response (IVR) Terminals

Attempting to do a credit card chargeback for returns not in compliance with our policies will incur an administration fee of $50 per chargeback.

Bad Credit Personal Loan IVR Terminals, developed by VoiceStamps
http://www.voicestamps.com, are a relatively new solution that
greatly reduces chargebacks and fraud by collecting a "voice
stamp" or voice authorization and verification from the customer
before the merchant ships the order. The voice recorded order
verification is then automatically e-mailed to the merchant for
filing in the event the customer tries to dispute the charge on
their account.

eBay wants to ensure that the marketplace offers buyers an array of safe, appropriate, and convenient payment choices for the marketplace. As described in our safe buying guide, eBay strongly encourages sellers to offer payments through PayPal PayPal is not only convenient to use, but it also offers buyers and sellers industry leading protection against fraud, chargebacks and theft of financial data. Merchants with their own merchant credit card processing account, party credit card processor, may also offer their buyers the option of paying directly with a credit card online (including through third party checkout) or by phone.

Credit Solution Of America #9 Collect CVC2 and CVV2 Verification Numbers

Credit This tactic alone can not only reduce instances of chargebacks
by 26%, according to Visa, but also reduce any pass-through fees
that may be charged when a credit card order is conducted. On
the back of MasterCard, most Visa and Discover credit cards is a
3-digit security code located right after your credit card
number. Requiring customers to give the 3-digit code acts as an
additional verification measure.

5 business days. When returning an item, please do not initiate a chargeback with your credit card company. We will credit your card for your return, and a chargeback will only delay processing of your return. We vigorously work with law enforcement authorities to investigate and prosecute the fraudulent use of credit cards.

Bad Credit Debt Consolidation American Express cards also have a similar security code that is
located on the front of the card right above the cardholder's
account number and is usually 4-digits long. Most online payment
processors support entering the security codes when processing
credit card orders. Check with your payment gateway provider
(i.e. Verisign, Authorize.Net, ECHO Inc., etc) for details.

Credit Card Solution #8 Use Address Verification System (AVS)

Credit Union AVS checks to ensure the address entered on the order form
matches the address to where the cardholder's billing statements
are mailed to. People ordering products and/or services using a
stolen card number will never use the real cardholder's billing
address, so this is your chance to stop the order before it's
too late. AVS only works with orders conducted in the US.
Failure to use AVS when processing credit card transactions will
always result in paying higher credit card processing fees.

Bad Credit Credit Card #7 Scrutinize orders from developing foreign countries

Credit Card Processing A large percentage of fraudulent Internet purchases are made
from Indonesia, Russia, and other eastern block or developing
countries. Accept orders from such countries at your own risk
until a worldwide AVS system is developed.

Apply Online For Credit Card #6 Let customers know what name will appear on statements

Bad Credit Car Loan Many merchants who use 3rd Party Processing companies have run
into problems because the company name that appears on
cardholder's monthly statements is usually the name of the 3rd
party processing company and not the company name of the site
the cardholder made their purchase from. This isn't always the
case, but in many cases it is. If you use a 3rd party processor,
and even if you don't, make sure the customer knows what name
will appear on their credit card statement at the end of the
month. This will help to reduce any confusion that might would
otherwise occur.

Credit Solution Corp #5 Handle suspicious orders accordingly

Credit Repair If an order seems suspicious the best way to handle the
situation is to either call or e-mail the customer and attempt
to verify that they placed the order. As a rule of thumb, if in
doubt, check things out. It may be a good idea that if a
customer makes an unusually large volume purchase from your site
to follow-up with a verification call. This is where a system
like IVR terminals, previously mentioned above, can come in very
handy.

Bad Credit Loan Mortgage #4 Watch out for orders using free e-mail addresses

Solution Credit Counseling Be wary of accepting orders from people who used a free e- mail
address when ordering (i.e. Hotmail, Yahoo, etc.). Tracking
people who used a free e-mail address is almost impossible, it's
much easier for them to get away then if they used their
Internet Service Provider (ISP) or their own company web site
e-mail address. To check whether an e- mail address is a freebie
or not just take the part of the address after the "@" symbol,
add "www" to the front of it and see what website it brings up
(i.e. joe@yahoo.com = www.yahoo.com

Credit Score #3 Signatures on delivery

Bad Credit Auto Loan If your business delivers products use a carrier that requires a
signature on delivery, and allows you to have a copy of the
signature. Retain these for your records.

The Debt Solution Consumer #2 Request fax copies of ID and credit card

Bad Credit Mortgage Refinance You may want to request your customer to fax a copy of both
sides of their credit card and driver's license. This tactic
usually works best in a B-to-B (business to business) sales
environment. While this is not a defense under Visa or
MasterCard rules, it is yet another way to deter fraud.

Bad Credit Refinance #1 Posting a warning message

Holloway Credit Solution Taking the time to post a warning message on your order page to
those who may attempt to make a fraudulent order will greatly
deter the number of instances of fraud. Be sure to mention that
IP (Internet Protocol) addresses are being logged. IP addresses
can come in handy when locating people about fraudulent orders.

Business Credit Card Taking measures to deter and eliminate fraud and chargebacks
from occurring are a necessity in order to operate a successful
online business. Each day companies dedicated to risk management
are developing solutions to provide merchants, like yourself,
with extra protection because of the financial burdens
chargebacks and fraud can bestow if ignored.

Second Mortgage Bad Credit About the author : Jim Conley II, CEO/Founder of MerchantSeek(http://www.merchantseek.com). Search FREE for a Merchant Account Provider that meets your business needs and budget. Plus learn details about different payment processing solutionn available to you.

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