Wyndham Hotels & Resorts in the United States have reported a serious breach in the data storage system of the company, hackers managed to steal thousands of customer’s credit card numbers from the secure computer systems of the company. [...]
Credit Card Frauds is one major worry for the booming online shopping portals, given a choice, 90% of online stores at some point of time would prefer a different mode of payment than a credit card, because in a Card-Not-Present scenario, an online merchant suffers the most if a fraudulent card is used by a shopper. [...]
A list of simple fraud prevention measures a merchant should observe.
1. Billing address entered by a customer should be verified and compared with the automated Address Verification System (AVS), which has a complete profile of a credit card holder including the address to which monthly statements are sent, an Address Verification System should be a part & parcel of any payment processing equipment or software, a merchant should observe this as a mandatory exercise. [...]
Recent Comments