Handling Large Orders Through Your Merchant Account
The big deal about handling large orders is that they are a sign of danger! And that’s because, large orders mean more risk of fraud, and a greater amount of loss if the transaction goes haywire because of fraudulent elements. The order must be verified to prove its legitimacy. A large order would be one that exceeds by far your average ticket amount. For instance, if usually your ticket amounts to $350 and all of a sudden you are approached with an opportunity of a single sale of $5,000.00, it is a cause for concern. Conduct address verification (AVS) and Card Verification Value 2 (CVV2). However, these verifications by no means protect a merchant from a customer using stolen credit cards. In such scenarios, vetting the transaction becomes necessary. Vetting: This terms refers to background checks conducted with the purpose of examining and evaluating someone before offering them employment or banking services. This originally “horse-racing” term has taken the general meaning “to chec...