E-commerce has begun to bring in millions of dollars, with the number of online stores and correspondingly more shoppers growing every year. With the emergence of many platforms to create sites for online shopping from scratch, along with the ever-increasing trend of online shopping, this is the best time to promote your unique product or service. But no one said there weren’t pitfalls of their own. When starting an online business, it’s important to be aware of the possible dangers of online sales – scammers. In our article, we will tell you more about how to protect yourself from fraud with Ethoca. You need to think about promoting your business, and Ethoca will take care of the threats and secure eCommerce fraud.
The Danger Is Near: What Is Online Fraud?
In the news, we often hear about theft, crime, and other stories that make the blood freeze in the veins. But why is no one talking about electronic fraud, which can be much more serious? Online fraud is any kind of illegal online transactions, fraud, and misappropriation of unpaid goods, using other people’s data and cards. Fraud comes in many forms and types and can target both customers and merchants, from small to large. Fortunately, just like police secure us in the streets, Ethoca services secure eCommerce fraud from being widespread.
Ethoca – Best Way to Secure Ecommerce Fraud
For every action, there is a reaction. Now we will describe the most popular types of fraud and tell you how you can painlessly overcome them with the help of Ethoca and a MaxPay Account!
Fraud with bank cards
The fraudster buys goods on the Internet and as soon as the seller sends the goods, he calls the bank and reports that the card was stolen and that he did not make the purchase. They demand from the seller to transfer money back and if the latter refuses to transfer money, they apply for a chargeback. In reality, such cases are possible when someone steals other people’s data.
To exclude the possibility of fraudsters using other people’s cards, we advise you to open an account with MaxPay, as this gate payment asks the client to complete a full identity verification to make sure the data is correct. MaxPay account works with different markets both in Europe and abroad, accepts money, and processes payments in USD and EUR.
Chargeback for the received goods
Here the scheme is very simple, the client orders the product, then pays for it. The seller sends the goods to the buyer, and when the goods arrive, the client assures that he did not receive them. He starts the chargeback process, which has a bad effect on the reputation of your open account among different banks.
To protect yourself, use anti-fraud instruments from Ethoca. Ethoca’s specialists are professionals in their field and will be able to prove your case in the case of an open dispute. With the help of Ethoca, you will reduce the chances of scammers and unscrupulous clients returning their money for a quality service. These are two main types of fraud, but there are many more. To secure eCommerce fraud, use Ethoca`s anti-fraud tool. Find out more on their official website.
What Are the Business Risks?
Since there are many types of fraud, there are a lot of risks. Fraudsters can turn the scam so that you ruin your reputation, lose money, and do not get the goods back. To minimize risks from the very first days, you need to protect yourself with the help of Ethoca’s tools, which we will talk about later. The scammers won’t get your money if you take it seriously.