Businesspersons are earning fortunes through e-commerce. With the advancement of technology, society is shifting from traditional ways of shopping to online shopping. From startup, small and medium enterprise to multi-billion businesses they are accepting credit card payment. E-commerce offers exclusive benefits for both customers and entrepreneurs.
However, online frauds have been a point of concern. The situation is alarming leading to majorities of businesses falling in the hands of scavengers. A study shows that this predicament affects fifty percent of small and medium enterprises.
This uncultured behavior is ruining the reputation of the business. It is crucial to update your online business website regularly. Customers feel safe to transact business with the person they can trust. A leading web development company based in London, Techtiq Solutions specializes in providing cybersecurity
Besides, they are seamless in providing regular maintenance of an e-commerce website. They have specialized in safeguarding the sites from malicious attack. With their latest security measures, your data and customers’ details are protected from landing in the hands of hackers. Here are insightful tips on how you can safeguard your credit card from online frauds.
Restrict the Number of Failed Transactions
After successfully stealing your credit card, fraudsters do not have full information. Therefore they usually use dark web software to guess the information lacking. By restricting the numbers of the failed transaction, the credit card gets blocked when the fraudster guesses are incorrect.
The credit card holder should set a limit of three numbers of consecutive failed attempts. It helps to avoid suffering in the wrong hands.
Limit Daily Expenditure
A credit card holder is advised to set the total amount of money he can spend on the website within a single day. Card cardholder will realize very fast and take appropriate measure before its too late.
IP and Credit Card Address Should Match
Small businesses can avoid incurring a loss by comparing the customers IP address and that of the credit card. Thanks to technology there is e-commerce software that blocks IP addresses for the countries that your business does not do shipping.
In scenarios where the shipping address and the billing address differs, and the customer has requested for expedited shipping businessperson should take precautions by asking the customers to provide the phone number so that you can match to avoid being a victim.
Adhere to Payment Card Industry Standards
PIC standard council has set ideal practices that all e-commerce business should adhere to. With the introduction of the measures, the online frauds will be minimized. All e-commerce stores must comply with the standards. These help in identifying scammers’
To protect your customers from the online scammers, advise them always to use intricate password. Most websites usually require a password with a minimum of eight characters that include uppercase, lowercase, numbers, and special characters. This password is considered as strong, and hackers cannot guess. A strong password protects your credit card information from fraudsters and hackers
To run your e-commerce successfully without worries that fraudster attack, keep updating your websites. Considering that majorities of e-commerce keep personal details of their customers, it is wise to outsource with web development companies to provide a full security of your websites against cyber-attacks.