One of the major tasks of a payment gateway or a payment processor is to provide a secured transaction for the service provider and the customer. This also means that payment gateway or the service provider is tasked with the function of avoiding and minimizing credit card frauds. in this article, our focus shall be on the security aspect of the payment service provider and how a payment gateway prevents the possibility of credit card fraud.
Focusing on the manual processing of the credit card is important and more secured rather than automated processing of the credit card.
When the credit card is manually processed, you are granted with the opportunity to ensure that the details of the order are without any discrepancy and you can also verify things that may appear suspicious to you.
Card Verification Value (CVV) information-
This is major tool to reduce the chances of credit card frauds. Merchant accounts very often require that a customer provides the card verification value code to proceed with a specific purchase. This is a good sign because the fact that the CVV code is with the consumer usually indicates that the prior card details are in the possession of the holder of the card.
Anonymous email addresses are very potent medium and camouflage for fraudulent elements to get you, since these email addresses are not associated with any specific email account, fraudulent agencies can potentially use them to camouflage their respective identities. For payment gateway and cross border payment consider Noire Pay.
