Carders are a group of criminals who buy and sell credit card information on forums. You can google “carders forum” to see what I mean. you will see that thousands of cards are bought and sold every day.
The fraudsters use these cards to buy goods and services from online merchants because it’s very easy and they never get caught. In 2007 they ripped merchants off for $3.6 Billion. Jusat how much of that was yours?
There are 4 main parties to an online credit card transaction. There are the bank, the card company, the cardholder and the merchant. Did you know out of all those parties the ONLY one that has any risk when a transaction goes bad is the merchant. Not only will the merchant lose the profit, the costs associated with the goods or services but he will be fined another $20 by the card company.
One big problem online merchants have is they cannot get the cardholders signature on the order. Without a signature by the cardholder, the merchant is the only party at risk. This is because there is no proof the cardholder authorized the transaction.
Another problem for online merchants is real cardholders who buy goods and services and then later claim they never authorised the transaction. This is a growing problem and one I have found some solutions which you can apply.
What can a merchant do to avoid this problem? Thats a good question and luckily after 13 years of confronting this problem I have produced a step by step solution. You need never be ripped off again. My new book “Merchants Beware and it’s companion video will lead you through the easy steps to detecting fraud before its a problem.
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