Tips for Identifying Credit Card Fraud

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Want to see how Chargeback Gurus can help your company better identify and prevent credit card fraud? • Schedule a demo with us here: https://hubs.ly/H0mgh-T0 • Credit card fraud is one of the biggest issues in eCommerce transactions. The protection for consumers comes in the form of chargebacks. However, the cost of chargebacks falls on the merchant. That's why it's important to strengthen their payment systems to filter out fraudulent transactions. • To do this though, they must learn how to better detect credit card fraud. Then, they can figure out the best way to prevent true fraud and chargebacks. • With eCommerce transactions, it's harder to spot the red flags of fraud, so you must learn the patterns of it happening. Some important detection and prevention tools include using PCI-DSS compliant hardware and software, AVS verification, and CVV verification. Additionally, some anti-fraud tools use other methods like artificial intelligence and machine learning to filter out credit card fraud including using geolocation, IP addresses, transaction velocity, and other factors. These tools assign a score to transactions that predicts how likely they were made by fraudsters. • Because true fraud chargebacks cannot be fought, they can be incredibly costly for merchants. It leaves them out both the transaction amount, the shipping for the product, and other fees associated with chargebacks. The best way to stop these chargebacks from happening is to learn the signals of your fraudsters and block them from doing business with you in the first place. • Read the article: • https://www.chargebackgurus.com/blog/... • ©Chargeback Gurus 2021 • Production: Tyler DeLarm • Narration: Sarah Rife

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