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Our Grand Opening

Tuesday, December 18, 2007

I know that when a business starts, everyone is excited.  Merchants will often hold a "grand opening sale".  While you might think this is a good thing, in the Internet realm - it is letting the the scammer know you are green to the area and might open you up to numerous fraud orders.  For review, please check out the post: Some Ways to Help Internet Merchants Reduce Fraud and Chargebacks.

If you need to post this type of sale, be very wary of any orders that as previously identified in our Preventing Online Fraud post.  And make sure that you keep an eye on your Chargeback Ratios.  Your merchant account needs to be maintained by you just as much as the merchant account provider.  Just by simply checking the (billing) address and the Card Verification Value 2 / Card Identification Number (CVV2 / CVC2 / CID)  will potentially save you hundreds, if not thousands.  Don't let those large orders fool you.

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