Payment fraud can happen because of fraudulent transactions, lost or stolen merchandise, or false refund requests. But some of the fraud with credit cards comes in the form of illegal hacking. A secure payment gateway can help curb the tide of illegal hacking.
One form of payment card fraud is phishing which is stealing information from a cardholder by pretending to be someone else. Another is identity theft, which can result in a fraudulent application for credit from someone who never intends to pay as agreed.
Illegal hacking or fraudulent transactions can also happen through:
- Pagejacking, the rerouting of e-commerce transactions from a legitimate site to a fraudulent one
- Wire transfer scams, including advance fee scams impacting store owners
- Merchant identity fraud, the setting up of a merchant account for a fraudulent business
How to Prevent Illegal Hacking
A merchant must do whatever is possible to prevent the theft of data and to ensure customers’ transaction security. Using a robust, full-featured and security-conscious payment gateway is an essential part of that.
Your payment gateway should provide:
- SSL for encrypting information,
- PCI-compliance
- Tokenization,
- Additional security layer
Other fraud protection tools you may need to consider include IP geolocation, email identity verification, reverse address lookup and more.
The UniPay Gateway provides a high level of data security. Moreover, the UniPay gateway aims to protect merchants and their customers at every step of every transaction.
Thus, when payment industry players work together, data security protects every level of the transaction. At United Thinkers, nothing is more important to us than protecting the data that goes through our gateway. May we help you protect yourself from illegal hacking?
