Online merchants are held liable for fraudulent transactions in the majority of cases. TeleSign’s phone verification can help reduce fraud.

In a recent article in CIO regarding online fraud in the Australian e-commerce industry, Tim Lohman discusses how “merchants, not consumers, banks or credit-card providers, are the hardest hit by online fraud”. He goes on to discuss how when a fraudster steals credit card information to purchase products and then the transaction is later found to be fraudulent, merchants are forced to refund the consumer but rarely get the product back.

Many fraudsters steal several credit card numbers and make purchases with these cards until the fraudulent transactions are noticed. By installing TeleSign’s Telephone Verification at the end of the checkout process, you can ensure that each transaction is really a legitimate transaction. In addition, if the fraudster does decide to test the telephone verification, they will have to give up a legitimate phone number which can then be traced later on.

Stop online fraud and reduce your chargebacks today, sign up for a TeleSign account to get started on improving your fraud prevention.

For more about this Internet merchant phone verification security system solution, call us now at 800-850-3485 and speak to an Internet merchant phone verification security system representative.