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Reducing Online Chargebacks
August 16, 2008
A chargeback is charged to a merchant when the customer claims their card has been charged and the merchant has not delivered a product or performed a service. The buyer then asks the bank to remove the charge from their credit card bill.
Online retailers have long been observing common patterns in online fraud. Here are some signs to watch out for:
- Late night orders-Fraud increases late at night.
- Ordering large amounts - thieves don't care how high the bill is, since they don't intend to pay it.
- Physical address - Physical address must match the credit card billing address.
- ISP address-This must be in the same area as the record of the customer's address.
- Credit limit - limiting the total amount one card can charge without independent verification such as a personal email or phone call.
Posted by Shanu Singh Guliani on August 16, 2008 | Comments (0)
