• Cardholder information verification
With the advancement in technology, you can rely on electronic identity verification services as a reliable data source to clarify and verify provided information. Identity thieves will have a difficult time hacking through other people’s information. You can also request for the card verification value (CVV) which should only be known to the cardholder.
• Inclusion of required transaction data fields
It should not be enough to simply have a name and card details to complete a transaction. It is important that you rely on more information. Always ensure that all transactions are only complete after all the necessary information such as telephone numbers, emails, as well as the billing address are complete. This will help with verification of the cardholder.
• Use of confirmation emails
This will help the business to verify if the email provided is valid by sending a confirmation email for the transaction requested. In the event that the message bounces, the chance that you are dealing with a fraudster is very high. It is then recommended that businesses hold the transaction until a valid email is issued.
• Frequently update tokens and log-in credentials
It is recommended that clients change their login details from time to time when before making transactions. This will prevent hackers from easily hacking into your account and obtaining confidential information. It is important that you also ensure that all clients login to an individual account before making any purchases.
The above practices aim at protecting both your e-commerce store as well as your customers from fraudulent activities. In turn, you stand to build your business reputation.