An eCommerce portal is based on transactions made online, where customers pay for products and services, they are making a purchase of. Online payment has undoubtedly made our life convenient and way of transacting, seamless. You go to an online portal, shop your favorite pair of shoes and reach for your credit or debit card to make the payment, without thinking twice. But did you give a thought to what happens when you input your vital card or banking information over the website? How safe and secured is it?
Online Payment fraud is the reality of the digital age. With advancing security and encryption, hackers and fraudsters are evolving too. But what is a payment fraud? Online payment fraud is a false or illegal transaction made over the internet, where the cybercriminal might be misusing someone’s sensitive card or banking information or identity.
Here are five major types of payment frauds made through online transactions and ways on how you could keep you and your card information safe.
Eliminating online fraud completely isn’t possible. The more we indulge in online purchases the more threat of fraud prevails. Moreover, since we cannot eradicate the possibility of falling for a possible scam, the only way to prevent it is through vigilance and regulation. Online transactions through a PCI compliant website that holds an SSL encryption can keep your card data safe and secure. Atom’s payment gateway is PCI-DSS compliant, which prevents our users to be scammed by fraudsters. So, if you are looking for a trusted payment gateway partner, your search stops here.