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Credit Card Processing — Security
Credit Card Processing: Check Statements Regularly
Dated: July 16, 2011
Credit cards are great tools to help manage personal finances when used correctly. Responsible credit card management begins with opening an account with favorable terms and conditions and knowing how to use that account to benefit your finances. Rewards programs provide savings in the form of cash back or points toward merchandise or other rewards. Low interest rates ensure you are not paying more for your purchases than necessary. These are just two of the ways you can manage your account to improve your finances. An important aspect of credit card management is making sure monthly statements are accurate. The processing industry is made of several parties making it possible for errors to occur which may be reflected on your monthly statements. Credit Card Processing Errors Credit card processing makes it possible for merchants to receive money from customers through a network of participants to include the processor, bank and … Continue reading
Credit Card Processing Fees And Internet Scams
Dated: June 11, 2011
Merchants accepting credit cards at their place of business quickly become familiar with credit card processing and associated fees. Because processing fees can quickly add up to hundreds or even thousands of dollars per year, there is a great focus on managing these costs. Consumers often remain blissfully unaware of the high cost of payment processing until it affects them directly. Internet scams often use third-party processing to steal from unwitting consumers. Here we look at a recent International Scheme. Bogus Credit Card Charges The Federal Trade Commission has posted information on their website regarding an International Scam which used unauthorized credit and debit card charges to rip off consumers. According to the news post, over $10 million bogus charges have been discovered posted to credit and debit cards without the issuers knowledge or authorization. More than a million consumers from five countries have been victimized by this scheme which … Continue reading
Security Issues? 23 Popular Websites Hacked!
Security issues are a main concern for (hopefully) the majority of online store owners these days. With hackers being constantly ahead of the game, experts are saying there is no way to be 100% sure your store is not going to get hacked. If you are one of those people who think “That kind of things don’t really happen!”, check out my list of 23 popular (and presumably well protected) websites which got hacked! After all, the smartest way to protect your own properties is to learn from other people’s mistakes. Futurebazaar Website Hacked Lush site Hacked Home Depot Website Hack Hacker safe online retailer gets hacked IKEA Kuwait website hacked
Hackers Find Ways Around Security
Credit card users must be diligent in how they store, use and track credit card transactions. Due to the ongoing problem with credit card fraud and identity theft, anyone participating in credit card processing must be wary of the risks involved. This is true for card users, issuers, merchants and other participants in the processing of transactions. The processing industry has evolved over the years, responding to security threats and other problems within the industry. There are strict security standards in place to protect card users, issuers and merchants from fraudulent activity. This evolution is not complete. As new techniques are developed and used to bypass current security procedures, the risk of credit card fraud continues to be a very real danger for those using and accepting credit cards. Hackers are trouble makers. Their actions can cause problems for individuals and companies alike. Their intent is sometimes malicious and other … Continue reading
Credit Card Processing: Be Wary Of Skimmers
Dated: February 26, 2011
Protecting your credit card information is an important part of being a credit card user. Most consumers are well aware of the negative consequences which result if their personal information falls into the wrong hands. For this reason, merchants and the companies they use for payment processing are required to meet very stringent security standards. Unfortunately the danger is not always in the actual processing of the credit card. Thieves and con artists employ any number of tactics to obtain card information from unsuspecting card holders. One of the ways in which criminals obtain your personal information is through a process known as “skimming”. Here we look more closely at this technique and how you can avoid being the next victim. What is skimming? Skimming is a practice used by scammers to steal your credit card information. This can be accomplished in many ways but most often involves the use … Continue reading
Preventing Credit Card Processing Fraud Online and Off
Did you know that credit card processing fraud is prevalent among online retailers? In fact, each year the amount lost to fraudulent credit card transactions totals in the millions of dollars. While it would be nearly impossible to eliminate all on line fraudulent payments, there are steps that on line businesses can take in order to keep fraudulent activity to a minimum. If you are accepting on line payment for your business, here are some tips to help you minimize your losses due to fraud. Choose A Trustworthy Credit Card Processing Company First and foremost when it comes to protecting your customer’s card numbers you need to make sure you choose a reliable credit card processing company. You want to make sure that you choose a company that has a solid reputation in the industry and does not have a history of identity theft or defalcation. Bottom line, before signing … Continue reading
Credit Card Processing – Fraud Detection
Dated: January 31, 2011
Prior to the busy holiday season, many consumers were reminded to be extra vigilant when using credit and debit cards for purchases. It is during this time of year when many instances of credit card fraud and identity theft occur. There are safeguards in place to ensure merchants using payment processing systems follow strict security measures, however it is impossible to eliminate all threats. For this reason, consumers are encouraged to pay close attention to their statements in the coming months. It is not uncommon for identity thieves to hold onto stolen credit card information to use at a later date. The following tips can help you determine if you are a victim of identity theft or fraud. Review statements! Do not become complacent when reviewing your credit card and bank statements. It is all too common for consumers to open, pay and file their statement without looking closely at … Continue reading
Credit Card Processing Security Issues
Dated: January 2, 2011
With millions of consumers worldwide using credit cards to pay for products and services, the issue of secure transactions is a big concern. If the wrong person obtains your credit card information you may become the victim of fraud or identity theft which start a lengthy process full of losses and stress which only a nepenthe could relieve. For this reason, all things associated with credit card processing must be secure. Protecting your personal data begins at home and with responsible credit card management, however once you hand over your card for processing, other security measures should kick in. The average consumer doesn’t spend much time thinking about what happens once a credit card is presented for payment. What we do know is that somehow money from our account is transferred to the merchant’s account. Credit card processing is actually fairly simple, however it does require the participation of several … Continue reading
Credit Card Processing Companies and Deceptive Business Practices
Dated: December 16, 2010
When choosing a credit card processing company it is very important to research the company in question before making your final decision. Merchants rely on these processors to ensure transactions are properly handled and that they receive payment for each transaction. It is also important for merchants to understand the whole payment processing system which involves more players than the processor alone. Credit card companies and banks are also involved in the process which means there is a chance that deceptive business practices used by any of these parties can affect the merchant as well as consumers. This appears to be the case with Discover, the major credit card company currently the subject of a Minnesota lawsuit. As stated in a New York Times article, “The lawsuit alleges that Discover Bank and its affiliated processing company made aggressive and misleading telemarketing calls to sign people up for these products, tricking … Continue reading
Credit Card Processing Scams
Dated: September 22, 2010
Scams involving money are as old as time. Both consumers and merchants alike must be vigilant in protecting themselves from scams, especially those that involve credit cards or credit card processing services. As more legislation is passed to protect consumers from fraudulent acts, merchants remain a target for certain scams. It is important to understand what to look for in order to protect your business as well as your bottom line. Here we look at credit card processing scams and what you can do to protect yourself from becoming the next victim. Credit card processing scams are tough to track and sometimes even harder to spot. Scams in this industry are not generally considered criminal in that a law is broken. Rather clever wording and misleading promises are used that can cost a merchant hundreds if not thousands of dollars in processing and other fees. These are they things you … Continue reading
