Why are merchants, gateways and POS systems such easy targets for hackers?

Data and sensitive credit card information are constantly inputted in these devices, making them vulnerable to the activities of cybercriminals. Human error can even make POS systems more exposed in a number of ways. For example, if someone downloads an unapproved application or fails to log out of a register, a hacker can enter into the system within minutes.

Merchants should keep in mind that hackers are not only skilled with computer systems, they are also great at understanding how people work. This is why social engineering is an important part of security. Just as fraudsters are looking for new ways to gain access to sensitive data, the processing community as a whole needs to stay vigilante and accepting of new ways to stay on the offensive instead of the defensive. Especially when it comes to high risk industries where gateways and online shopping carts are often used.

What can be done?

Thankfully if you’re looking for credit card fraud protection services for merchants, you have come to the right place. At Double Helix Solutions we have the technology and partnerships with leading fraud prevention tools to provide you with the best payment processing solutions for your business When a retailer begins accepting online payments, they have officially entered the card-not-present space. For a consumer, the choice between buying merchandise online or in-store merely comes down to a matter of convenience, cost, and availability.

Buying online versus in-store are two very different scenarios, especially concerning the liability of accepting a fraudulent transaction. For the eCommerce merchant, a card-not-present (CNP) transaction, which means that the cardholder isn’t physically present with the credit card when swiping it for a purchase with the merchant. For online sellers, having credit card fraud protection for merchants when you launch is a critical step as it can save your business a lot of money in losses. For a consumer, the choice between buying merchandise online or in-store merely comes down to a matter of convenience, cost, and availability.

With no standard security measures like checking identification during the transaction and using a chip reader during the transaction, an internet transaction is deemed to have far less eCommerce fraud prevention and eCommerce fraud protection measures making it a much higher risk for fraud.

Given the risk involved with accepting an online transaction, the liability of accepting a fraudulent transaction rests with the retailer, rather than the issuing bank. If a merchant accepts an order online that is later deemed a fraudulent transaction, it’s the merchant’s responsibility to refund the consumer. The cardholder’s issuing bank will collect on behalf of the cardholder. Understanding this liability is critical for online retailers, many of whom are unaware of their responsibility to examine their online purchases closely to weed out credit card fraud.

Why switch?

You may already have partner and may ask why switch? Well ask yourself these questions: Did they consider you high risk? Did they give you high risk rates? If they did, they why be with a company that is so willingly taking advantage of you? Give us a call at 727-873-0963 and see how Double Helix Processing can assist with all your merchant account needs.