CreditCardProcessingAdvice.com Exposes the Money Small Business Owners Lose to Fraud

July 11, 2012 - PRLog -- Reputation is the foundation for businesses engaging with consumers.  Offering products for sale, a business is expected to maintain a level of security that ensures no potential for fraudulent purchases and virtually no risks for their consumers.

For a business to have their security breached and allow for a customers’ private information to be released to hackers, represents an ongoing issue businesses are attempting premeditate.  For a business to inadvertently allow for a product to be purchased with stolen credit card information represents a serious threat that is difficult to prevent.  Small businesses are at a substantial disadvantage when it comes to this issue.

If a business sells a product to a consumer using a fraudulent credit card, the appropriate credit card company reimburses the actual cardholder.  The business owner is then informed of the fraudulent transaction, the appropriate amount is taken from the business’ bank account and then the merchant account provider proceeds to charge a penalty fee.

The consumer gets away with the merchandise.  The victim of credit card fraud is reimbursed.  The business owner must pay the credit card company, the business owner must pay the penalty fees to their merchant account provider, and the business appears insecure.

CreditCardProcessingAdvice.com (http://creditcardprocessingadvice.com/), a major contributor in informing businesses on processing services, suggests small businesses use a third party system such as iovation to avoid credit card fraud.

iovation’s ReputationManager 360 (http://creditcardprocessingadvice.com/preventing-credit-c...) is specifically designed to prevent online hackers to access the personal information of a business or that business’ customers through device identification, device reputation, and real-time risk reporting.  The ReputationManager 360 features a sharing design that analyzes cyber criminals across brands to stop fraud across industries.  Configurability allows security to be designed in accordance to the needs of each business.  The Real IP feature identifies accounts coming from one source and blocks use from high-risk locations; this feature also ensures that customers using proxy IPs for privacy do not have that privacy compromised by this software.  Risk experts involved in iovation’s program analyze breaches in the company’s security and identify ‘norms’ within the business’ specified industry. An overall reporting feature comprises a sum of the information gained using ReputationManager 360, showing a compilation of suspicious activity.

Establishing the veracity of a small business requires hard work- work that can be seriously compromised by a breach in security.  The use of credit cards has increased exponentially in the past decade, businesses need to remain at the forefront of credit card security and preventing fraudulent purchases to maintain their public image, personal funds, and customer base.

Media Contact Info
James Brady
CreditCardProcessingAdvice.com
6197862823
http://creditcardprocessingadvice.com/
jmbrady@creditcardprocessungadvice.com

SOURCE
CreditCardProcessingAdvice.com
iovation.com