While online businesses are mushrooming day by day,
it also is a fact that a lot of them fall prey to online payment fraud,
hacking, and phishing. A very secure payment portal that protects the
confidential data of the merchant and the customer is therefore essential for
the success of your business. Most customers are wary of payment portals that
redirect you elsewhere or take time.
They would rather deal with a website where payment is instant. Payment Asia has a team of experts
whose mission it is to improve and integrate the different payment solutions
almost on a daily basis.
The most common type of online fraud is account takeover wherein customer accounts with ecommerce stores are hacked into by fraudulently getting usernames and passwords or by using bots. Sometimes hackers get into databases and steal personal information and uses it to make purchases. It is to prevent such types of fraud that payment solutions providers have to be Payment Card Industry –Data Security Standard Level 1 compliant. This is not an option and has to be strictly adhered to. Payment Asia will help you to comply with this for the protection of your customers.
Look For Red Flags
Through its innovative transaction and reporting, Payment Asia ensures that you are able to monitor transactions and reconcile bank accounts easily. You can thus look for red flags such as a different physical location of your client or inconsistent billing and shipping information. You can also track customer IP addresses and alert them if they are found to be operating from countries known for fraudster activity. Setting limits to the amount of purchases per day can also ensure minimum losses in the event of a hacking episode.
Efficient Support System
As mentioned by Payment Asia’s Kenneth, merchants who use their services also enjoy the support of a 24x7 customer service hotline. The customer service support also helps with fraud monitoring. They help with AVS or Address Verification System wherein the numeric parts of the billing address on the credit card is compared to the address on file in the credit card company. Customers are also encouraged to use an eight-character alphanumeric password that should also contain one capital letter and one special character to make it difficult for sophisticated hackers to crack it. Payment Asia has a comprehensive technical set-up that ensures they are constantly updating their software with security patches and business-grade anti-malware and anti-spyware software. This ensures you are protected from attacks and are not vulnerable due to outdated software.
