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Internet credit card payments warning

  • 21-05-2010 11:59PM
    #1
    Mickk
    Registered Users, Registered Users 2 Posts: 1,001 ✭✭✭


    Just a warning to people taking credit cards online either through paypal or merchant accounts. When you take a payment over the net it is completely at your own risk, eg there is no insurance if the person uses a stolen credit card. CCV numbers are worthless and if someone pays with a stolen credit card, even if it takes the bank a month to notice it has been stolen the money will be taken out of your account and given back to the real owner of the card.

    In the past three months I have had three transactions using a stolen credit card, the first for 2500 thankfully was caught in time but we didn't catch the bloke. The second for 500 went through without any indication that it was a stolen card, I only found out 2 months later when the customer queried the transaction on his statement. This will come back out of my account and i am without the goods...

    The third one for 500 was last week and he came down to collect the goods personally, thankfully the fraud squad were in the warehouse waiting for him.

    Anyway just a warning, it's something that I didn't know when I started taking payments online.


Comments

  • #2
    soma
    Registered Users, Registered Users 2 Posts: 602 ✭✭✭soma


    Mickk wrote: »
    Anyway just a warning, it's something that I didn't know when I started taking payments online.

    Hi Mickk.

    Yes as merchants we are *stunningly* vulnerable to online fraud - I was absolutely and utterly shocked to learn the details of the "processing/screening" that is done by the likes of Realex etc in this country.

    I do not want to post further details here but I will P.M. you my strategy for detecting fraudulent transactions.


  • #3
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,897 ✭✭✭✭drunkmonkey


    What I always check is sites like daft etc, just to see is the premises for rent etc where the goods are being shipped, i'm using sage which has a 3rd party verification called the 3rd Man, it's pretty good at giving you a good indication of what's happening. i.e something being delivered to dublin but goods bought with a german card etc.


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