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What Is Online Payment Fraud and How PayTabs Deals With It?

April 1, 2019

What Is Online Payment Fraud and How PayTabs Deals With It?

Every now and then people become victim of payment fraud in various ways. You must have heard news of someone transacting with someone’s money without their permission. Well, that is the perfect definition of payment fraud. In short – illegal transaction of money is defined as payment fraud. You can save yourself from such frauds by using secure online payment systems.

How Payment Fraud Takes Place?

Today, there are many ways through which your card’s data gets copied and that’s how such a fraud takes place. Payment frauds can be done in different ways such as identity theft in which the personal information gets stolen and further gets used for illegal activities.

Another way is page-jacking in which the traffic from your e-commerce website is taken to another website by hackers. However, the most common way of payment fraud is phishing in which emails and messages asking about bank details, personal information, etc. are circulated to people.

These are the commonly used methods for payment frauds. However, the good part is that with a little awareness, you can save yourself from falling into such a trap. Read on to know more.

Things to Keep in Mind to Avoid Online Fraud:

  • Always shop from reputed and well-known websites.
  • Create a proper profile by registering your email and contact number so that the shopping experience is hassle free and if any unknown activity happens, you get notified via email or SMS.
  • Set passwords which are not easily recognizable.
  • Make sure that you have your number registered so that online payment platforms ask for a one-time password before processing online payment request.
  • Turn on the message alert so that whenever some unknown activity happens with regard to your account or card, you get instantly notified.
  • Keep your credentials private and safe. Do not share important passwords and OTP with anyone.

Payment Fraud: What Can Be Done On a Bigger Level?

Since people have started paying through online payment platforms, the risk of payment fraud has also increased. To have a risk-free online payment experience, you can use different options available on the internet. One of the most reliable ways to have a safe online payment experience is using PayTabs.

PayTabs is a highly recommended and reliable payment gateway. It is one of the most reliable payment platforms and accepts payments in around 168 currencies. The user-friendly dashboard helps users in monitoring & managing their online transaction details with ease.

In the world of digitization when most of the businesses are marking their online presence, it is necessary to have a platform where all the payment related aspects can be taken care of without any hassle. This is where PayTabs comes into the picture.

From transparent pricing to user-friendly interface to 24/7 assistance, there are many reasons for you to give PayTabs a try. With PayTabs, you can quickly get your payment deposited, accept payment in 168 currencies, enjoy customized pricing solutions, and much more.

PayTabs is a PCI-DSS certified payment platform, equipped with dual-layer fraud protection mechanism which lessens the chances of payment frauds. In addition to these, 3D secure authentication and EV SSL certification ensure foolproof transactions at all times.

Conclusion

Though there are many risks associated with online payment, the truth is that it is quite convenient and saves a lot of time. Therefore, foregoing online payment is not a judicious choice. What you should do is attain a good amount of knowledge about the measures you can take to avoid online payment frauds.


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