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 Post subject: Credit Card Fraud
PostPosted: Sun Nov 19, 2006 4:11 pm 
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Joined: Mon May 29, 2006 10:38 am
Posts: 50
Just opened for business 1month and had about $2,000 worth of credit card fraud.

I had address and cvv card verification on. The transactions looked legitimate, but a closer look revealed that all the credits were being posted to 10 different accounts. I expect to see a world of charge backs. I finally shut the accounts down a voided some of the transactions that had not yet posted.

Currently, in am implement preauthorizations on all transactions as oppose to an immediate sale. If the transactions look good I will then post to my gateway for processing.

Also, I am giving any new customer that has purchase before a call to verify their identiy.

Just wanted to share this info.

If anyone else know of futher credit card protection I can use please share.


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 Post subject:
PostPosted: Sun Nov 19, 2006 5:33 pm 
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Joined: Tue Jun 06, 2006 12:14 pm
Posts: 685
Location: florida
This is a VERY IMPORTANT issue with our business. I too have been nailed with almost identical scenario. We should really work togther to find best way to address this issue. I've wondered if the CC's don't have a user phonenumber on file, and if we were to have an automated system that calls their phone number to verify useage before processing. ??

PayPal does a very poor job on their verification and you end up with a ton of chargebacks if the fraud people find your site.


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 Post subject:
PostPosted: Sun Nov 19, 2006 6:10 pm 
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Joined: Mon May 29, 2006 10:38 am
Posts: 50
I too thought about that phone number verification, I called visa/mc and my gateway and got no used suggestion. It's as if they didn't care much about potential fruad as long as they can hit you with the charge backs.

In fact, my I could have stopped almost all my fraudulent transactions if someone had given me some good advice. Instead, they pretty much said there was nothing they can do. I called immediately on once this person bought their 3rd card, but no one helped.


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 Post subject:
PostPosted: Sun Nov 19, 2006 8:59 pm 
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Joined: Sun Apr 02, 2006 5:29 am
Posts: 97
Just curious does paypal charge a fee for each charge back? or it just takes back the money that it has credited your account..


its nice of you to let us know your CC fruad expreinces... I think manaully verifying new buyer is the best way but it still lots of work. I have not started to market my business but I have some pilot users... i'm planning to have 2 days wait for a new customers before activating their account and only planning to provide SIP account connect, DID and no calling card services... Does any one have any thoughs on this...


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 Post subject:
PostPosted: Mon Nov 20, 2006 1:41 am 
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Joined: Tue Jun 06, 2006 12:14 pm
Posts: 685
Location: florida
The issue is a serious one, I guess if there was someway to have a hold on buying on their account until after you verify their info. I know on my Paypal horror ... the scammer would buy on same account from several different credit cards. Perhaps if you check their IP of their registration versus the location of where they say they reside and credit card is based on would give protection.

With my paypal experience ... I didn't know it was fraud until the money was used and then paypal charged me chargeback on the whole thing. If dealing with paypal, clear your balance out all the time, so they can't take the money back from you. My thought is paypal is charging you for a service of protection and they should provide it and they should be responsible for verification.


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 Post subject:
PostPosted: Thu May 10, 2007 5:45 am 
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Joined: Tue Jan 23, 2007 11:41 pm
Posts: 42
With most of these fraud issues, you can normally tell from the first use or first signup by a client. This is not always the case, but in my case, it was.

The way I tried to tackle this issue was to put an "expiry date" of 2004 on every new account that is created. This way, even when someone has confirmed and had their new account activated, it will not work until I have had a look at their account details properly (both on paypal and with a2billing).

I also include this within the "signup confirmation" email so new clients are aware that their new accounts will not work immediately. I inform that this process is just a verification process which helps prevent fraud.


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 Post subject:
PostPosted: Thu May 10, 2007 8:53 am 
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Joined: Tue Aug 08, 2006 4:00 pm
Posts: 117
Location: Bitola,Macedonia
i dont work with paypal and also i dont work with credit cards for my customers but i think the best credit card payment option is moneybooker becouse there i think theat dont have charge back ?


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 Post subject:
PostPosted: Tue Jan 08, 2008 4:05 pm 
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Joined: Tue Jan 08, 2008 4:04 pm
Posts: 1
Here is a nice and in-depth explanation of credit card fraud


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