It is no secret that the online commerce has been heavily affected by web base scams, with a special emphasis on what is called identity theft, we all see lately on massive credit card data being stolen by hackers all over the place, and certainly such leaning can come to your business as a fraudulent customer or as a security violation into your hosting servers.
Credit Card companies have set a certain bundle of guidelines to help keep your business protected, this is of course not a 100% full proof system but helps your business to meet the standards and become less accountable to lawsuits. There are different levels according to your business activity in reference of amount of customers. Following a few of procedures you need to keep in order to be a compliant and secure merchant account.
At all times gather sensitive information such as: first name, Sir name, emails, address; under a unique session, most common practice known as SSL. Make sure credit card information is also secluded by and SSL. This Method will guaranty that only that one the single user will have access to the inputted data, leaving out spywares and other unsolicited watchers from this session.
Ensure not to storage any credit card information, especially if your hosting is not a dedicated server or owned by your company, if this is the case make sure you have periodical inspections to spot hacks into your system, and also comply with The PCI regulation. Moreover credit card information is best to be encrypted and make sure only dedicated reliable personnel will have access to this information. Take notice that most internet services payments providers will reply with sufficient information to pin point any transaction, including payments from frequent transactions if your business follows such a model.
Always a great idea to have 3DSecure and Verify by Visa confirmation embedded to your system, this function obliges from a costumer to input a unique pin number supplied by its issuing bank, this pin is to be inputted into the costumer’s bank confirmation page. Most processors will offer this system with your merchant account, and both Visa and MasterCard are energetically promoting the use of this protocol to prevent unnecessary fraud.
Many web base risk tools are also available for your business in order to assess the risk factors of the transaction, yet now days these programs although provide a great service are found scarce. You can use what is called a two step charge, the original transaction is send to your payment provider with a simple command of pre-authorization, the provider will apply web base risk tools and will announce the card holder of a future payment to your business; usually this announcement will stay active for 7 days, within that period of time, you can apply you know your costumer procedures for instance: verify phone, address, email, etc. After that a simple charge command is implemented without the requisite of credit card storage. For merchants selling tangible merchandise is a good idea to have a professional delivery service that provides tracking numbers.
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