Finally, you have gotten your business online and you begin to accept credit cards for transactions.  You get your first statement and are pleased with the amount of sales you have generated through credit card charges.  Then you get a letter from your merchant account company and find that a number of charges are being contested and the money you thought you had is being held back.

You have just experienced the beginning of a new nightmare that plagues many online businesses.  Eventually the credit card charges are reversed and you are left with no product and no money.  To top it off, you may be charged chargeback fees from the credit card company.  People love the convenience of using credit cards and you have to be able to accept them.

What can you do to protect yourself from fraud?  Be sure you follow all the rules and regulations set up by your merchant account.  Credit card companies spend billions of dollars a year trying to help business protect buyer’s information.  Contrary to popular belief, credit card companies do not enjoy taking money back from a business.  If you follow all the rules, you have a better chance of not being charged for special fees.

Unfortunately, there are still a number of other ways that you can be defrauded.  Credit card information is stolen from websites all the time.  Many websites work with companies that provide hacker protection.  This is not an expensive protection.  The savings you can generate from not paying chargeback fees can easily pay for this service in not time.

Some responsibility should be put on the consumer as well.  You may be a victim of identity theft if you don’t protect your computer from spyware.  If you don’t, you might make an  online payment and all your information can be taken at that point.

For the business owner, a sound payment processing can help you to protect your business.  Remember, follow all the rules for credit card payments, check for spyware, protect your customer’s information and you will hopefully avoid fraud.

Morris C.
Press Office
E-payarea
Collect your money through online money transfer system

Article Source:http://www.articlesbase.com/business-articles/fighting-fraud-your-online-businesss-best-defense-1024694.html