Four practices to protect your e-commerce store from fraud
Implement one-click payment
Large global e-retailers such as Amazon offer this option. The big advantage is that as customer data is stored, they don't have to fill out a new form at the time of purchase and input their credit card data every time, offering fewer opportunities for fraudsters to steal this data.
Demand strong passwords
When customers register on your site, demand that they use stronger and more complex passwords that include both numbers and letters. Make sure to tell them this is to increase the security of their data and purchases. Some customers might feel this is a nuisance, but if you are careful to explain the benefits, they will see the value.
Limit the number of denied transactions
Often fraudsters use malicious software that enters different credit card numbers successfully until they are able to make a purchase. One way to avoid this is to limit the number of times users are allowed to input incorrect credit card data. If this number is exceeded you can temporarily block the customer and put him or her on a high-risk list.
Hire a professional
Trying to do this on your own takes a lot of time an effort. A qualified partner can help you with this side of the business so you can focus on sales, customer loyalty and seeking new customers. Most fraudsters are very tech-savvy and know how to bypass system security. It is possible, but difficult to avoid fraud and chargebacks without the help of a specialized company. Contact email@example.com for more information on how we can be your fraud management partner.