Signs of Credit Card Fraud

22 Signs of Credit Card Fraud & How to Protect Your Business From Harm

Even though you shouldn’t have to deal with it, credit card fraud is something that all business owners have to suffer from. And the bigger you get, the more you’ll have to deal with it. There are ways to reduce credit card fraud, but you’ll never be able to get rid of it completely. When fighting back against credit card fraud, your first plan should be to be able to recognize credit card red flags and have processes set in place for each. Your POS and/or online gateway should take care of most automatic flags, but it’s good to be aware of them so you can customize your responses if need be. Who does credit card fraud affect? Unfortunately, no one entirely escapes from credit card fraud, BUT there are some industries who are victimized much more frequently than other industries. If you have a business in or sell any…

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AVS (Address Verification System) Explained

AVS (Address Verification System) Explained

It doesn’t matter what type of business you have, if you’re conducting online transactions consistently, it’s important to have a set of order review measures in place. Apart from the obvious benefits of fraud prevention, order review measures build customer trust and increase your leverage in chargeback cases — ultimately reducing your overall chargeback expenses. And the more you grow, the more important these measures and the system that you keep track of them with becomes. You may already be using or have heard of some of these order review measures before; many come built-in with the processing services MSPs provide, but it’s important to know why and which parameters you have in place to both make better decisions for your business and to be able to defend yourself when chargebacks occur. Documentation and proof of process are the keys to winning cases. The most common order review checks include…

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Credit Card Decline Reason Codes Explained

Credit Card Declined Reason Codes Explained

Declined credit cards are a common occurrence in any business environment, but it is especially common in B2C, high-transaction volume companies. Whatever point-of-sale system you use, it should deliver a specific code number along with the decline receipt, but that won’t help give you the “why” without having the definitions to those codes. Having these on hand helps you provide better customer service by way of a more thoughtful and thorough explanation. We’ve compiled a list of the most common denial reasons below, and if you cannot find the code here, we recommend contacting your POS provider directly.

The Cost of a Breach

What Happens When a Company Experiences a Data Breach?

If you are a business owner, you do not want to find out firsthand what happens when you experience a data breach. When your company is the victim of a data breach, it can be both frustrating and terrifying. A data breach puts financial records and personal information in jeopardy which can lead to identity theft and even leave you drowning in fraudulent charges. For obvious reasons, a data breach can be very bad news to any company that experiences one. It can lead to a loss of customers and can be a huge financial hit to your organization. A data breach is something you want to avoid at all costs. But in order to avoid them, it helps to know what causes them. Why Does a Data Breach Occur? One of the most significant reasons why data breaches are so common these days is because cyber thieves are presented with…

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2FA Login

How to Secure Your Business with Two Factor Authentication

In this age of online accounting and cloud storage, it is more important than ever to make sure your business is secure against the threats of cyber crime. Two factor authentication is an integral piece in this equation. It can be a powerful tool for protecting your business’s online presence and data. Maybe you haven’t heard of this means of protecting your business or you are unsure of how it works. With this in mind, let’s take a look at how to secure your business with two factor authentication. What is Two Factor Authentication? Let’s start at the beginning by defining our terms. Two factor authentication is essentially taking an additional measure beyond the usual password in order to secure your account. In other words, your password is one factor and, let’s say, a single-use code via text message is another factor. This allows for an added level of security…

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