No wonder, use of technology and online businesses have made life easier to a great extent. But, at the same time they pose a severe threat for the businesses too. This is because of the risk of fraudulent acts associated with them. For example, using credit cards online can lead to malicious activities, thefts and transaction frauds. Small businesses specifically are more prone to such risks as they are unaware of these ill practices that can be a source of great hindrance in their operations. Thus, they need to be fully aware of the prevention measures they can take to protect themselves from any thefts and associated risk factors. Such cybercrimes can take many forms like delivery address fraud, mobile transaction frauds etc. in order to avoid these problems some essential steps are listed below:
Address verification codes
This is a very useful anti-fraudulent tool used by most credit card companies and can help to spot the fraud instantly. It helps to match the information customer provides with the credit card company for example, matching the zip codes and street numbers. If used correctly these address verification codes can help to monitor the costs and save them by making you eligible for lower interchange and frauds or charge-backs that may occur late.
Card verification code
This number is of great benefit as it helps to identify of the card is physically present with the card holder at the time of purchase. Visa, Mastercard and CVCs are basically three digits to be found at the back side of the card near the signature panel. This protective layer helps to ensure that user is not using the stolen credit card numbers.
This protection tool involves all three parties i.e. the business, the acquiring bank and credit card company itself. This requires the customer to enter a personal code before proceeding to checkout. After filling in the card details, customer would be redirected to 3D secure passcode. In order to use if efficiently the business needs to be in touch with the credit card processing company and preferably also install a plugin to permit the dealings. This technology does not charge extra to either Visa or Mastercard and would come across as handy to tackle the online transactions. More information on these preventive layers can be found here.
All the rules listed above are important for the online business operation specifically in b2b sector too. These help to confirm the identity of the users and help to make the tedious task of safe transactions easier significantly. These firewall installations on company’s system can help it stay up to date and carry out smooth operations and look forward to a successful business. Several online guides like on check-caller.net can help identify any bogus activities in advance and precautions can be taken to prevent any losses in short and in long run. This would also ensure genuine and secure transactions for them and increase the overall credibility.