The growth of cloud hosting in business has opened up numerous options, from the way employees are paid to the way payments are accepted. But as technology has evolved, criminals have worked hard to find new ways to work the system. The industry is always working hard to stay one step ahead of fraudsters in order to protect both merchants and their customers.
Every day in this country, credit cards are stolen and used to purchase goods. While credit card companies generally bear the brunt of the responsibility, merchants can be slapped with fees and chargebacks, especially if they fail to follow the guidelines in their agreements with various card companies. In addition to carefully scrutinizing those agreements, these cloud options could help ensure a business remains safe.
Employing the latest fraud prevention technology, ThreatMetrix can help with both software and education to help a business reduce the risk of such crimes as account takeover, payment fraud, and fraudulent account registration. Once in place, ThreatMetrix uses cutting-edge technology to analyze online identities and their associated devices to detect suspicious activity.
Authorize.net is a payment gateway, which works with a business’s existing solutions. The service is primarily designed for online payment acceptance, but it also helps safeguard businesses against fraud in accepting in-store payments or payments via telephone or mail. Having the Authorize.net seal on a website or POS system is a great way to help customers feel more secure in providing credit card information, which is a bonus for merchants.
Businesses should take as many precautions as possible to prevent credit card fraud in their stores and online. While education is an important part of that, cloud tools can add an extra layer of protection. As criminals continue to find new ways to defraud businesses, it’s important that those businesses do everything they can to keep themselves safe.