Fraud Prevention

No matter how sophisticated your e-commerce shopping cart system is, or no matter how careful your retail operation is to secure in-store transaction information, there are fraudsters probing for weaknesses — fraudsters who are just as sophisticated and, unlike you, are not bound by any rules or sense of professionalism.

As an industry-leading high risk payment processor, Performance Card Service (PCS) has seen it all when it comes to companies victimized by fraud. A significant part of our business is advising clients on fraud prevention and fraud recovery. With more than 20 years of experience in this field, we have forged solid relationships with our payment processing partners and will give you access to their highly sophisticated fraud prevention software.

If you have been a victim of credit card fraud, your business may have been classified as high risk and be in jeopardy of having restrictions placed on your ability to process credit card transactions, or even losing the ability to accept credit cards entirely. Don’t let this happen. If you are heading in this direction, or already have been deemed high risk, contact PCS immediately. We will help you regain lost ground.

Credit card fraud schemes have been around as long as credit cards themselves. While fraudsters use countless tactics, most of their ploys are variations on one of these themes.

• CNP (Card-Not-Present) fraud. Here, fraudsters attempt to steal credit card information on orders that are conducted over the phone or via email. If your company engages in a lot of CNP transactions, this alone may be enough to place you in a high risk merchant category.
• Lost or stolen credit cards/credit card information. Even though your business suffers the consequences of fraud, the problem is not always your fault. Often, lost or stolen credit cards used to make a purchase from your company fall into this category.
• False applications. Fraudsters are adept at faking credit card applications. We guide you to software that adds layers of protection.
• Counterfeit credit cards. Fraudsters can rig card readers with a device that skims information from credit cards, and then use the information to create fake cards.
• Assumed identity. This is a very common type of fraud, in which the criminal uses false ID information to obtain a phony card.