According to the Federal Trade Commission, over 1 million fraud complaints were filed in 2018, with many customers declaring financial losses resulting from charges they didn’t make. After all, while it’s easy to click on a button and purchase something you desire, the online world also has its own complications. The company, without a face or signature, needs to take extra care to verify authentic purchases, gaining client support as well as securing valid sales. In the event that people dispute the deal, often the store is left to foot the bill, thus taking a loss. Avoid this by trying the following three tips.

1. Where Does the Purchase Originate?

Location is important. Have software that can compare the card holder’s address to the place it’s being used. If someone is trying to buy something from a country far away from the residence, then you may want to flag it as suspicious and ask for additional confirmation. Furthermore, be aware of areas that have a higher probability of misuse. Should anything seem odd, evaluate other information before completing the deal.

2. How Do You Know It’s Real?

Sometimes family members (or friends) borrow a card, using it to acquire a new purse or pair of shoes, dress or furniture. The holder may have lent it, but is unaware of the acquisition’s cost. Furthermore, sometimes, it’s simply a matter of forgetting about the deed altogether. This purchase gets questioned, the credit agency attempting to deny payment. This may even occur after the merchandise hits the mail, resulting in a loss of profit. Cases such as these can be frustrating and harmful. Companies are out there to offer protective services. Consider using chargeback defense solutions to verify it. When the call comes to check on the sale, information comes up to support the valid purchase.

3. How Much Is Being Spent?

The reality is that most people don’t spend hundreds of dollars at a time. In fact, shelling out tons of cash could be a sign of fraud. If this, coupled with other suspicious factors occurs (an odd IP address or unusual email), you could turn to workers at Ethoca or other watchful enterprises. These employees use software to send alerts, warning of misconduct and use, stopping you from sending out the items; thus, such services could save you a major hassle or loss of revenue.

People look for ways to manipulate and steal identities, using the data to then acquire what they desire. Liability then falls to the company. Be proactive, and take measures to verify sales, hopefully keeping your business and customers safer.

Comments are closed.