Mail Order companies and E-Commerce Web operators are constantly faced with a higher chance of incurring a fraudulent credit card transaction than are merchants who operate physical storefronts.
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Because neither the Cardholder nor the card is physically present during the transaction, the merchant has no real way of easily determining whether or not they are dealing with a legitimate customer.
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According to a report recently issued by the U.S. Federal Bureau of Investigation (F.B.I.) in conjunction with the Internet Crime Complaint Center (IC3):
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“Credit and debit card fraud comprised 6.3% of all complaints received in 2006.”
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This represents over $60 Billion (.U.S.) in lost revenue to merchants that accept credit and debit cards for on-line transactions. While some of those losses are covered by the Issuing Bank, who may often reimburse the merchant’s if all of the bank’s card acceptance and processing rules were followed exactly, some of that loss may still be […]

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