123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

How To Handle Fraud Payment?

Profile Picture
By Author: sneha shah
Total Articles: 112
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Lots of companies face the challenge of offering an excellent customer experience and committing to the duties of fraud mitigation.

This issue has got more severe due to the rising online payment methods and shopping from online stores. A company ought to figure out whether a particular transaction has been approved or is simply an act of fraud. You should make sure there is no misinterpreted assessment of the payment and proper investigation is done so that the company’s reputation is not spoiled.

The risk of fraud payment is mainly faced by companies that manage a huge volume of online transaction. Majority of the companies are compelled to broaden their focus and devise new fraud risk management strategies to refrain from getting deceived in terms of money matters. Regarding the payment legitimacy, any business activity needs a specific level of trust.

Also, the seller faces a kind of risk that the check may be fake; the deposit may be empty or even worse their own account information could get compromised. Most of the businesses have experienced ...
... a payment fraud at some time or the other.

The use of over cautionary methods leads to alienating customers. To overcome this, there are various software programs that can be sued to prevent this type of activities. An ideal fraud deterrent technique in cases of high expense purchases could be if the customer is made to provide a password which should be verified by the credit card company. However, if this is followed for low cost purchases, people would avoid this system and ultimately abandon it fully.

To systemize the fraud prevention techniques, companies have employed their own anti-fraud program sand techniques. But these are also not a fool proof solution to the problem. To begin with, rigorous training and leadership, turning each and every one of a company’s employees into a fraud risk management tool, these techniques help to build a risk management oriented culture for the company which extends beyond those worries listed above into every perspective of the business. Companies have to show the people that they can take severe actions on such issues of payment fraud.

More information at: http://www.made-from-india.com/article/How-to-handle-fraud-payment-1171.html

Total Views: 268Word Count: 364See All articles From Author

Add Comment

Business Articles

1. How Global Trade Finance Facilitates Cross-border Transactions And Reduces Risk
Author: Riddhi Divan

2. Innovative Uses Of Nickel In Cryogenic And Marine Environments
Author: Online fittings

3. Implementing Predictive Analytics In Your Abm Toolkit
Author: SalesMark Global

4. Comparing The Top 5 Live Commerce Platforms For 2024
Author: Amy Williams

5. Data-driven Precision Marketing For Effective Demand Generation
Author: SalesMark Global

6. Supercharge Your Sales With Optimized Pipeline Velocity
Author: SalesMark Global

7. Best Japan Tour Packages
Author: bharathi

8. Adani Group Stocks Down 20%; Gautam Adani Indicted In Us Over Bribery Charges
Author: Bizzbuzz

9. High-performance Ss Round Bars: Addressing The Energy Sector's Needs
Author: Neelkamal Alloys LLP

10. The Role Of Modern Washroom Solutions In Maintaining Cleanliness
Author: ritika krishna

11. Why Choose Premium Taxi Services In Kochi?
Author: maya

12. Black Magic Astrologer In Kasaragod
Author: Sripandith05

13. The Health Benefits Of Adding Pineapple To Your Pancakes
Author: maya

14. Top Luxury Resorts In Kerala For Your Dream Vacation
Author: maya

15. How To Start Your Shopping Website In Doha: A Simple Guide
Author: maya

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: