Thanks to the rising demand for digital fitness solutions, there has never been a better time to sell your services online!
Unfortunately, payment fraud is also on the rise. And while that can sound scary, there are some easy steps you can take to help protect yourself.
Take a look at some best practices to protect yourself against payment fraud.
- Do not process a payment manually - An individual may ask you to manually charge their credit card for a payment. Ensure that they make the payment themselves online using their own personal email, as they may be using lost or stolen credit cards.
- Do not split a payment across multiple credit cards - A sign of lost/stolen credit cards may be a request to split a large payment across multiple credit cards that do not share the same billing address.
- Be wary of additional charges requested - If they are using stolen credit cards, they may want to charge a card more than the required amount (known as an “overcharge”) and pay out a portion of that to a third-party (e.g., driver, shipper or freight company) using a different payment method (e.g., cash, money order).
- Do not provide refunds manually - They may ask you to charge a card and then provide a refund outside the card network (e.g., check, wire transfer).
- Trust your gut - Fraudsters are getting smarter and smarter, and will often prey on your kindness, but if something feels sketchy or a little bit “off”, just say no. Trust your instincts and be firm in your payment processes and policies.
Keep these tips in mind to reduce your risk of payment fraud and feel free to review this Stripe article for more information.
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