Home>Discussion>Fraudulant activity - and loss of over $6500.00 order
Fraudulant activity - and loss of over $6500.00 order
Feb 06, 2014
Andrewwrote
Hi Ashop Merchants,
My business lost approx $6500.00 in one order in November due to the terms and conditions of most banks gateway accounts, The liability is always shifted to the merchant if a credit card is not visually sighted. (so if the payment is made through a gateway, only the banks have access to the card and ccv, if the card is not reported stolen at the time of processing, the transaction is approved, The Ashop merchant receive confirmation that the payment has been approved, the goods bought by that card holder are sent (the goods are lost to theft), then the client has 120 days to dispute that they gave permission for the card to be used or to find out that it was stolen).
The Commonwealth Bank have a product called 3D secure that may combat this, It is simple to activate if you are using a Commbank Gateway.
However Ashop will need to do some programing to their payment gateway, Max from Ashop support has advised that after the engineers complete the new Ashop Market Place project that they have just launched, it may free up some time to do the programming of the new 3D secure product.
If any Ashop Merchant is interested in getting this up and running fast, please comment below or talk to Max in sales and register your interest, the more people who want this activated the better chance we have of getting it done quickly.
The 3D product brings in another level of security where an activated card will be asked for a pin code during the checkout processes, the pin code will be verified live by the bank and if correct the payment will be approved.
Should a credit card not be active the bank has said that the sale will just be completed as normal.
However the beauty of this system when enrolled is that the liability shifts from the merchant to the credit cards bank to make sure that it is a legitimate credit card and authorized resulting in no chargeback.
By having this activated Ashop merchants will not be back-charged when they are NOT able to visually see the credit card.
For more info please call my Contact Matt at the Commbank 1800 882 888
Please get on board to get this product activated.