The business who accepts credit cards, have to take the risk of paying the charges occurred due for the bank. The bank considers the full responsibility of the business owner for the fraudulent credit card transaction.
One small example may clear the idea of how fraud transactions happen. Let that some online retailer sends goods to the customer who pays through credit card and that card is stolen recently. The actual owner claims his money back and bank pays back the money to the owner. Now the business owner needs to pay back the whole amount to the bank as they have taken the risk and also he looses his goods and postage costs.
When the owner of a business is transacting a customer over the credit card payment, the customer he never met and do not know anything about the history, then he should be taken care about to adopt some tricks.
There exists a system called Real Time Credit Card Payment System. Here the customer gets an immediate notification of transaction and bank also checks the card number against the reported stolen card numbers. Also the security of the customers has been taken care of during the process as the process immediately checks the number of the card, hence does not store the number in any online cached memory.
Sometime with more developed system, the card verification code is asked from the customer while transacting online. This is a 3-4 digit security code written on the card and only possible to tell the correct code while physically you are holding the card in front of you. Else the exact match of the credit card number with the code number is not possible. Also the person who is giving the card number but is not giving you the proper security code number may be a fraud and therefore this entire process is an assurance for your safe transaction.
It is also possible for some advanced software engaged with online transaction that you collect your customer's proper demographic data like his name, postal address, social security number, email address, phone number etc. By this way the owner of the business getting assured of the customer's actual occurrence and also can found the customer's present location by help of Google map or Google earth software. So the decision of sending the goods to his given address is depending upon you while you are aware of the customer's residential place even. May be some owner can seize to send the goods while the postal address of the customer is in the area where the case of fraudulent credit card is maximum.
Therefore the use of modern e-commerce software can help both owner and customer to exist in a healthy environment of non fraudulence credit card system. The Wealthy Affiliate shows many other ways to ensure the safe Internet Marketing.
Greg is an experienced internet marketer, that has been making a 6 figure income for over 3 years now. To get more information about internet marketing (or affiliate marketing), he recommends that you check out Wealthy Affiliate at his Wealthy Affiliate Review.
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