How to Practice Safe Online Shopping

Written by Business Success on . Posted in Card not present transaction, Card not present transactions, Credit card

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Most people have experienced online shopping at some point. Some people do not enjoy it, preferring to shop for their necessary items in a store, while others solely rely on the convenience of online shopping. Many customers enjoy the ability of shopping at home, looking for items without having to get up from their couch and then waiting for them to be delivered to their front doorstep, without ever having to leave the comfort of their own home. Although online shopping has provided customers with a convenient and simple shopping process, customers still need to practice care and safety when purchasing items over the internet.

Global E Commerce sales generate $931,490 every 30 seconds through desktop sales and $269,683 through mobile devices. These numbers show just how prevalent and common the world of online shopping is today. However, when a customer shops online, they are handing their credit card information over. They are sending this secure information over the internet, allowing hackers to obtain it easily. Card not present transactions result in billions of dollars of fraud every single year. In fact, in the USA, card fraud costs more than $8 billion annually. Fortunately, there are steps that customers can take to reduce the amount of risk and the likeliness of fraud from occurring.

When shopping online, customers should only purchase items from reputable and trusted webpages. They should look for copyright, webpage hosting information and even reviews prior to making a purchase. The legality and the secureness of the website will make a difference in the preventing a chargeback credit card transaction from occurring. Although large chain stores are much safer than smaller, pop up websites, they still do carry some risk in fraud in card not present transactions. A card not present transaction chargeback can result in a loss of purchase, a loss of secure information and further fraud with the stolen information. Card not present transactions can even lead to identify fraud, as you are offering up your information necessary for identity fraud.

54% of data breaches in 2014 related to identity fraud, 17% aimed at financial access and 11% sough account access. It is important for customers of online shopping to also continually monitor their bank accounts. Although many credit card companies offer some form of chargeback protection with a monitoring service, it is beneficial to have additional monitoring. Credit card companies who offer monitoring services generally are only looking for abnormal spending habits. They may miss charges that make sense, but were not by the card owner. A customer knows their spending habits, and is likely to notice credit card fraud in their own accounts much quicker.

Finally, a customer needs to take immediate action should they notice any type of credit card fraud that has occurred. They need to prevent further fraud and the ability of identity theft. They need to work with the credit card companies, identifying the wrongful charges and ensure that the card is closed out, preventing the hackers from making additional wrongful purchases. If identify theft is an issue, then police enforcement might be brought into the case.

Online shopping is very common. Many people prefer the convenience that online shopping offers. However, it can also be risky because you are putting your credit card?s information out over the internet. If the site is hacked, the information is getting into the wrong hands. There are steps that customers can take in addition to their credit cards chargeback protection Ecommerce to reduce the likeliness of card not present transactions fraud. Although online shopping can be a very convenient way to make purchases, customers need to be aware at all times and take the necessary precautions to prevent credit theft.

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