How can you minimize the risk of accepting online purchases?
When you buy something online, how does the computer know that it’s you? It doesn’t – it can’t see you or your signature. This type of transaction is riskier to processors and risk has a cost. In an effort to lower the risk of fraud, credit cards have a “dispute mechanism” that allows customers to investigate fraud in the event that unrecognizable charges appear on a monthly statement. In order to get money back from merchant, an investigation must be opened and a credit or “chargeback” may be placed on the customer’s account.
Synergy Card Services provides P.O.S. terminals that are compatible with over 80 different online checkouts. Once a customer makes an online purchase and goes to the checkout to submit payment using his or her credit card, the information is sent directly to Synergy Card Services in order to have the transaction approved.
