Blog

Category: Fraud Protection Tips

April 4, 2018

Is Your Credit Card Processor Honest?

credit card

Accepting credit cards in your business is a requirement in today’s cashless society. In fact, we are seeing an uptick in the use of contactless payment methods such as Apple Pay, Samsung Pay and even Fitbit Pay. With these payments, a simple tap on the keypad of your phone or fitness device and the payment is done. While this is convenient for your customers, the near elimination of cash and check payments means the cost of processing these transactions continues to rise. Like accepting credit cards, the cost of processing credit cards is also a requirement for merchants. This is why, now more...Read more


January 24, 2018

American Express SafeKey – An Anti-Fraud Tool

amex safekey logo

All of the major card brands offer advanced anti-fraud tools for merchants who are willing to implement them.  American Express offers a tool called SafeKey. SafeKey provides an addition layer of protection for online transactions made with an American Express card. What Exactly is SafeKey? SafeKey is American Express’ version of a 3D Secure authentication tool that protects both the Amex cardholder and the merchant to avoid unauthorized Amex transactions performed online.  Cardholders are automatically enrolled in the Amex SafeKey program with no additional action required on their part. When making an online purchase with a participating merchant, the cardholder...Read more


October 4, 2017

A Major Data Breach – Possibly 5 Million Card Compromised at Sonic Drive-In

card

We have shared it before and now we will share it again.  Data Breach Protection policies are super cheap and well worth their investment.  Less than fifty percent of all U.S. merchants have invested in a Data Breach Policy.  In October of 2015, the liability for data breaches was shifted from banks to merchants.  Chosen Payments offers a Data Protection Policy for about $10 a month. Most recently Sonic Drive-In has been breached — and possibly in a pretty big way.  Sonic, at present, is at 3,600 locations across 45 U.S. states — and while it has acknowledged the breach itself,...Read more


August 9, 2017

How You Hold Your Mouse Might Prevent Online Fraud

mouse

As fast as new security tools are implemented to combat online credit card fraud, criminals devise new ways to beat the system or find new weak spots in how online credit card processing works.  Chosen Payments constantly monitors solutions that keep our merchants safe from experiencing a fraud loss. Many of our clients such as home housewares, limo operators, uniform retailers and trade associations conduct the majority of their business through online transactions so improvements in fraud disruption are an important consideration. If we go back in time to the early 90’s, we were pretty easily duped by phishing emails...Read more


July 19, 2017

Managing Mobile Fraud

mobile fraud

Over 2 billion smartphone and tablet users are expected to make at least one mobile transaction during 2017. Mobile purchases are dominated by young shoppers, mobile commerce (aka mCommerce), already accounts for over 50% of US online transactions. It is likely to become the most preferred shopping method of the future. While mobile sales present great opportunity, merchants still have some way to go before they can maximize revenues and effectively prevent fraud losses from mobile sales. According to the 2017 Global Fraud Survey, over 90% of eCommerce merchants use the same tools to manage fraud across both web and...Read more


July 13, 2017

In The Fraud War – The Chip Trumps The Stripe

chip card technology

What is it about the microchip that makes credit and debit cards so much more secure than those that contain only the magnetic strip? It’s In The Numbers Magnetic stripes contain information that doesn’t never changes.  It includes the account number, the expiration date, the 3-digit security code and even your name.  That stored information makes it relatively easy for a thief to use a cheap machine known as a skimmer to scan and store the card information from the magnetic stripe.  Skimmers can be placed inside ATM machines or gas pumps and retrieved after you leave.  Even your PIN...Read more


March 18, 2017

Chosen Payments Assists Merchant With Scam Investigation

Chosen Payments, was recently contacted by a limo operator in New Jersey who recently incurred combined losses of approximately $4200 in repeated occurrences of fraud perpetrated against them. On March 8th, Chosen Payments was contacted by Deanna Gulino, owner of Gem Limousine Worldwide to report that someone had used various names and credit card numbers to fraudulently book transportation primarily between LAX (Los Angeles International Airport) and a residence in the Griffith Park area of Los Angeles. Between February 17nd and February 22nd, the suspect initiated rides that lasted for several hours and included stops at The Project, a swanky...Read more


January 5, 2017

Chosen Payments Featured at Gourmet Catalog Convention

Chosen Payments CEO, Jeff Brodsly will be a featured speaker at the Gourmet Catalog & Buyers Group – Beginning of the Year Conference. The conference will be held at AmericasMart in Atlanta beginning 01/11/17 through 01/13/17. Chosen Payments will once again have a booth at this show dedicated to gourmet kitchen products and other housewares. Jeff will be providing an educational session on how retailers can avoid becoming a victim of fraudulent credit card transactions. With the financial liability shifted to merchants, the cost of a fraudulent sale can be hefty. Chosen Payments travels to various trade shows across the...Read more


April 20, 2016

The Cost of Online Fraud – Verify Address Using AVS

The internet has undoubtedly changed the way we shop.  Shopping for many common household items and, clothing in particular, has become a way of life.  People are finding that ordering paper towels in bulk or even toothpaste through Amazon or other online merchants can be cheaper than buying at the grocery store and the product is delivered right to your door saving time and money. Unfortunately, this has created an increase in credit card fraud activity and merchants can be hurt financially in the process without controls in place to combat the activity.  Fraudulent sales result in chargebacks to the...Read more


October 14, 2015

Fraud Protection Tips: 3 Ways to Protect Your Financial Information

Identify theft, fraud and stolen financial information are on the rise. However, there are viable ways that you can protect your mobile wallet, passwords, identification log-ins, credit card numbers, and more. Online Safety Especially online, it is critical that you do everything possible to keep your financial information safe. Every day, thousands upon thousands of criminals are on the prowl for their next victim. After obtaining financial information, criminals wreak havoc on people’s lives. In addition to fraudulent purchases, criminals steal proprietary business data and complete identities. For victims, it can take years to recover. When dealing with credit card...Read more