Although there’s no guaranteed way to prevent online fraud, merchants can take some steps to prevent it’s occurrence in order to protect their businesses. This is important because you may be held financially responsible if a fraudulent transaction occurs on your Merchant Account. Here are a few tips to help you check mobile money and card fraud:

  1. Ensure that you take as much customer identity details and payment details as possible.
  2. Send email and sms notifications to your customers on purchases on their account. You can also place calls to your customers to confirm payments.
  3. Consider delaying the delivery of physical goods by a day or two, this will give card owners the opportunity to detect a charge on their card and report to their issuing bank.
  4. If possible, always try to obtain a customer signature for in-person purchases.
  5. If you’re taking online orders, be sure to take the location address of your customers.
  6. Manually review all payments on your account.
  7. Require a valid government-issued IDs before every credit card purchase, and keep proof of all credit card orders.
  8. Train your employees on best practices for payment transactions.
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