Running an online retail site or store is a huge challenge. It is one thing to have a big store online such as Amazon and eBay, because they are huge companies and they have built in policies to ensure that no fraud has a negative impact on them. But if you have a small retail site or you opened up a site to sell the items you have at home, you may find that you are going to have a harder time with fraud prevention.
One of the things you are going to have to do is make sure that whoever is using your site has the option to use full encryption when they are entering data. This is really vital and it is something we often forget when opening an online store. No one is going to enter their card information and other details unless the page they are using is fully encrypted and secured by a reputable company that provides these features. Another thing you have to consider is whether the information you are being given by people is real or not.
For instance, there are cases where people give false card details they store and use it to buy items. What you need is a bin lookup feature on your site, where you can easily detect whether the card information you have been given is real or not. This is really vital, because you cannot allow yourself to push through orders that were made with stolen cards. If this does happen, the eventual repeal of the charges means that you will lose out on the money, not the person whose card was stolen, or the card company. So you have to make sure that you are taking every step to protect yourself and your store. Use the bin feature today to try it out!