How to Avoid Credit Card Risks Online

Credit card transactions performed online can expose you to a number of risks, such as identity theft and credit card fraud. These often happen when you transact with an unreliable merchant online or when you give out your credit card details to unscrupulous persons online or to non-secured websites. Whether you are a seller or a buyer, it is important that you be vigilant against the possible risks that you could face online.  Learn how to avoid these risks and learn to protect yourself from whatever fraud that may happen on the Internet.Below are some of the things you can do to ensure your protection and security:

For Consumers

The following techniques may help you protect yourself from all types of credit card risks online:

• Check the website. Only sign in and fill out the form at a secure website. Often, such websites have “https” in their URL.
• Beware of phishing scams. Many consumers make the mistake of responding to emails, text messages, or even a Facebook message that asks them for their credit card details. If you receive such a message, you should call your creditor for verification before responding to the message. Remember that most lenders don’t usually send Facebook or text messages.
• Use disposable numbers. This method is not entirely new. Disposable numbers are numbers that you can use for your transactions online. These numbers serve as an alias for your real card number, thereby protecting your real credit card details. Disposable numbers can be obtained for free.
• Confirm the authenticity of the merchant. Not all merchants can be trusted. Some will offer bogus products while others will make a promise that they will deliver the item that you have paid for. You wait for days just to find out that you have been scammed. Make sure that you check what other people are saying about the seller by means of checking out the ratings and reviews about the seller or the company. 
• Monitor your bills. One of the greatest features of a credit card is that it allows you to keep track of all your expenses. Check your statement regularly to validate the purchases you have made.

For Merchants

Consumers are not the only ones who are targeted by fraudsters. If you own a website and you accept credit card payments, here are a few ways to help you avoid card risks online:

• Beware of orders made late at night. According to studies, many fraudsters choose to transact and make orders during nighttime. 
• Look out for international purchases. All of a sudden you are getting orders from Israel, South America, or Eastern Europe. You might want to be careful in dealing with these “customers.”
• Be wary of high volume orders. Fraudsters will order several items and won’t even care about the bill since they don’t have the intention to pay for them anyway.
• Compare the addresses. Some card processing systems let you verify the address of the buyer and the one in the record. Make sure that they match to guarantee that you are transacting with a real person. 
• Accept credit cards only if the customer provides full information. Your customers should be able to give you their full name, complete home address, and their phone number. 
• Ask for the CSC. The credit card security code contains 3-4 digits, which the user must present to verify that they have the card in their hands. This code comes in different names: CVC2 (MasterCard), CVV2 (Visa), or CID (Discover and American Express).