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How safe is Online Payment ?
- Thread starter Y2K
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Online Payments: Making payment online is very convenient and speeds up the ordering process for any merchandise or service purchased online. However there are certain frauds that both, online sellers and buyers should be aware of. The benefits of online selling and purchasing are far too many for people to give up and it is best to be cautious and reduce risks as much as possible.
Credit Card Payments, Buyers Beware: When you use your credit card to make online payments, ensure that the seller has a good reputation. Spend some time to read through buyer testimonials on the sellers website. If the merchandise or service that you purchase is very expensive, request the seller to provide references that you can call up and check for yourself. Gauge the seller by the way in which queries and questions are answered and pay caution to selling pressure. Most websites have an 'Order Now' page that is completely mechanised and even the email that thanks you for your order and payment is not written by a human being. Buyers rightly tend to feel detached and scared when dealing with such establishments.
Another issue that buyers using credit cards to make online payment should be cautious about is, the possibility of the seller or his staff misusing the credit card information. This could result in the buyer being billed for merchandise that was never ordered and never delivered to him. When using a credit card to make online payment, the buyer is required to provide complete information regarding his card, the billing address of the card and even the verification code mentioned behind the credit card. This is also the only information that is required, by people with bad intentions to make transactions through your credit card. You need to ensure the reliability of the seller, before making the online payment and this point needs to be emphasised.
There is one sure benefit that payment options like Paypal (explained below) have over credit card payments. When you use a credit card to make an online payment to one seller, all the information related to your card is now available to that seller. After a few months of making online payments for various products and services, you will realise that this critical information is now lying on many servers installed by various sellers! The probability of the information being leaked during a hacking incident increases and this is a big problem. A seller might provide excellent service and sell the best wine online at great prices, however he might know little or nothing about keeping his servers safe and secure. Services like Paypal offer an alternative where, your confidential credit card or bank information is disclosed only to them (Paypal) and they in turn pay various sellers. Read a more comprehensive report on Paypal down below.
There is another fraud that has taken shape in recent years and that refers to identity theft, which simply means that somebody robs certain critical information regarding you. This information is enough to make that other person actually 'prove' that he is you. Credit card information is one of the favourite areas attacked by such fraudsters. We have devoted an entire section in this report to explain identity theft as it is a fraud that could financially cripple you.
Credit Card Payments, Sellers In Danger Too: In this report on safe online payments, we wish to provide information that is important to both sellers and buyers. Sellers install ecommerce enabled websites where shoppers can shop for 24 hours and all through the year. The idea is to increase convenience and also give a larger choice to buyers. One aspect of shopping convenience is the ability to receive online payments and credit cards are a favourite with buyers.
In recent times fake and robbed credit cards play havoc with sellers. Even the best credit card verification systems cannot eliminate all frauds. Identity theft (discussed in detail below) has added a new dimension to these credit card frauds. You will not know whether the buyer is the true owner of the credit card or infact using robbed information. The credit card company will inform the seller of the fraud only when, they in turn receive information from the real owner of the credit card. This intimation could come from anywhere between 15 days to 90 days after payment is made and this is enough time for the buyer to disappear without trace. The seller having lost his merchandise to a fraudulent buyer, is still bound to refund the money received from the credit card. The money needs to be returned to the actual owner of the credit card. This is referred to as a charge back and the seller rarely can do anything aside from refunding the money.
Most credit card companies suggest that, sellers pay extra caution when receiving orders from buyers with free email addresses. This is not very practical as numerous genuine buyers also utilize free email address services. Sellers should try to keep logs of fradulent payment transactions and then compare various characteristics for suspect cases. This is not an easy task and a trained eye will be required to quickly spot a doubtful transaction.
A few useful tips are randomly listed here: (a) Consider calling up the buyer on phone if payment for a big purchase is paid by a credit card. (b) You could also email the buyer and request the name of the company that issued the credit card. It might just be possible to get the credit card company to contact the true owner of the credit card and confirm if the payment was genuine and itentional. This does not always work, so do not pin much hope on this option. (c) Keep detailed records of bad transactions and then make a comparison when new doubtful payments are received. Same email addresses, shipping addresses and even same phone numbers are often used by these fraudsters. (d) When you get confirmed orders from countries like Nigeria, Indonesia, Pakistan, Phillipines and a few former Soviet Union countries, pay extra caution. These purchases will almost always be paid through fake credit cards and are rarely genuine transactions.
Credit Card Payments, Buyers Beware: When you use your credit card to make online payments, ensure that the seller has a good reputation. Spend some time to read through buyer testimonials on the sellers website. If the merchandise or service that you purchase is very expensive, request the seller to provide references that you can call up and check for yourself. Gauge the seller by the way in which queries and questions are answered and pay caution to selling pressure. Most websites have an 'Order Now' page that is completely mechanised and even the email that thanks you for your order and payment is not written by a human being. Buyers rightly tend to feel detached and scared when dealing with such establishments.
Another issue that buyers using credit cards to make online payment should be cautious about is, the possibility of the seller or his staff misusing the credit card information. This could result in the buyer being billed for merchandise that was never ordered and never delivered to him. When using a credit card to make online payment, the buyer is required to provide complete information regarding his card, the billing address of the card and even the verification code mentioned behind the credit card. This is also the only information that is required, by people with bad intentions to make transactions through your credit card. You need to ensure the reliability of the seller, before making the online payment and this point needs to be emphasised.
There is one sure benefit that payment options like Paypal (explained below) have over credit card payments. When you use a credit card to make an online payment to one seller, all the information related to your card is now available to that seller. After a few months of making online payments for various products and services, you will realise that this critical information is now lying on many servers installed by various sellers! The probability of the information being leaked during a hacking incident increases and this is a big problem. A seller might provide excellent service and sell the best wine online at great prices, however he might know little or nothing about keeping his servers safe and secure. Services like Paypal offer an alternative where, your confidential credit card or bank information is disclosed only to them (Paypal) and they in turn pay various sellers. Read a more comprehensive report on Paypal down below.
There is another fraud that has taken shape in recent years and that refers to identity theft, which simply means that somebody robs certain critical information regarding you. This information is enough to make that other person actually 'prove' that he is you. Credit card information is one of the favourite areas attacked by such fraudsters. We have devoted an entire section in this report to explain identity theft as it is a fraud that could financially cripple you.
Credit Card Payments, Sellers In Danger Too: In this report on safe online payments, we wish to provide information that is important to both sellers and buyers. Sellers install ecommerce enabled websites where shoppers can shop for 24 hours and all through the year. The idea is to increase convenience and also give a larger choice to buyers. One aspect of shopping convenience is the ability to receive online payments and credit cards are a favourite with buyers.
In recent times fake and robbed credit cards play havoc with sellers. Even the best credit card verification systems cannot eliminate all frauds. Identity theft (discussed in detail below) has added a new dimension to these credit card frauds. You will not know whether the buyer is the true owner of the credit card or infact using robbed information. The credit card company will inform the seller of the fraud only when, they in turn receive information from the real owner of the credit card. This intimation could come from anywhere between 15 days to 90 days after payment is made and this is enough time for the buyer to disappear without trace. The seller having lost his merchandise to a fraudulent buyer, is still bound to refund the money received from the credit card. The money needs to be returned to the actual owner of the credit card. This is referred to as a charge back and the seller rarely can do anything aside from refunding the money.
Most credit card companies suggest that, sellers pay extra caution when receiving orders from buyers with free email addresses. This is not very practical as numerous genuine buyers also utilize free email address services. Sellers should try to keep logs of fradulent payment transactions and then compare various characteristics for suspect cases. This is not an easy task and a trained eye will be required to quickly spot a doubtful transaction.
A few useful tips are randomly listed here: (a) Consider calling up the buyer on phone if payment for a big purchase is paid by a credit card. (b) You could also email the buyer and request the name of the company that issued the credit card. It might just be possible to get the credit card company to contact the true owner of the credit card and confirm if the payment was genuine and itentional. This does not always work, so do not pin much hope on this option. (c) Keep detailed records of bad transactions and then make a comparison when new doubtful payments are received. Same email addresses, shipping addresses and even same phone numbers are often used by these fraudsters. (d) When you get confirmed orders from countries like Nigeria, Indonesia, Pakistan, Phillipines and a few former Soviet Union countries, pay extra caution. These purchases will almost always be paid through fake credit cards and are rarely genuine transactions.
Depends on the site.
Porn sites - Not secured.
EBay - Secured depending on the seller's reputation.
Sites certified by Verisign or other certification authority- Safe and Secured 90%
(e.g. Amazon)
Anyway before paying through a credit card, make sure you're in an atleast SSL enabled site. Easiest way to check whether the URL is an https://.
Porn sites - Not secured.
EBay - Secured depending on the seller's reputation.
Sites certified by Verisign or other certification authority- Safe and Secured 90%
(e.g. Amazon)
Anyway before paying through a credit card, make sure you're in an atleast SSL enabled site. Easiest way to check whether the URL is an https://.
always there is a risk involved. Its always good to buy from trusted and well known sellers. like amazon tigerdirect newegg bestbuy etc. and also, you can use paypal. which will help you to pay without exposing your credit card. and also look at the payment gateway.
amila_90210 said:
And machang you can check the favicon area of the browser gets green (in FireFox) if the site is secured. And actually you can click on the favicon area to check the certificate.
e.g. for a secured site:
https://online.westpac.com.au/esis/Login/SrvPage
click on the favicon to see the security certificate
x-pert said:And machang you can check the favicon area of the browser gets green (in FireFox) if the site is secured. And actually you can click on the favicon area to check the certificate.
e.g. for a secured site:
https://online.westpac.com.au/esis/Login/SrvPage
click on the favicon to see the security certificate
Thanks aiye...
I think this one is more safer than normal credit cards...
http://www.sampath.lk/web_card.php
Give it a try.... !! TC.
http://www.sampath.lk/web_card.php
Give it a try.... !! TC.
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