• Home
  • Free VPN
  • Free PPTP VPN Server List
  • Privacy Policy
  • Terms and Conditions
Enroute Editor
No Result
View All Result
  • Login
  • Contact
  • Technology
    • Android
    • Web Development
  • Business
    • Finance
  • Digital Marketing
  • Fashion
  • Health
    • Food
    • Fitness
  • Entertainment
  • Law
  • Travel
  • Home Improvement
  • Contact
  • Technology
    • Android
    • Web Development
  • Business
    • Finance
  • Digital Marketing
  • Fashion
  • Health
    • Food
    • Fitness
  • Entertainment
  • Law
  • Travel
  • Home Improvement
No Result
View All Result
Morning News
No Result
View All Result
Home Tips

Preventing Payment Risks in the UK: Quick Guide

Snehal Tanwar by Snehal Tanwar
July 27, 2021
in Tips
0
Preventing Payment Risks
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

We’ll show you some methods on how to make e-payments a bit safer. In this article, you will get to know about preventing payment risks in the UK: quick guide.

High-Risk Merchant — What Does It Mean

Those merchants whose business is “attacked” by the frequent chargebacks (including fraudulent ones) can profit from high-risk merchant services in the UK. Basically, in the United Kingdom, every business that makes 15,000 pounds or more every month and has frequent card transactions, can potentially be classified as “high-risk”. What does this status bring to your company, though?

Being a high-risk merchant obliges you to face the following:

  • High fees. Processing rates and higher fees/commissions are the main disadvantages of the status.
  • Reserve. They will also demand that your business has a sufficient money reserve to cover possible refunds.

In the long run, these fees will result in bigger expenses, decreasing your company’s revenue. 

Here are some of the business types that are especially vulnerable to this threat due to their work specifics:

  • Electronic stores.
  • Car-selling companies. 
  • Various agency services.
  • Hotel booking and ticket services.
  • Shops that sell vape-related products, e-cigarettes, etc.

And many others. So, what can you do to avoid this calamity?

Reducing Payment Risks — Ways & Means

Now let’s quickly review the strategies to minimize various e-payment risks.

1. Address verification

It’s not a panacea, but Address Verification Service (AVS), helps reduce the risks. This algorithm checks the billing address and indicates if something suspicious is happening or not. If everything seems legit — a money transfer goes through.

2. PCI DSS

There’s a set of rules called the Payment Card Industry Data Security Standard (PCI DSS). It shows which security standards your company must adhere to when processing such payments.

In total, there are 4 classification levels. Each one depends on the size of a given enterprise and its annual revenue, so your case must be treated individually.

If your business is in 100% compliance with the PCI rules, you’ll both protect your company from all types of e-fraud and also decrease your risk status in the eyes of a bank.

3. SSL

SSL or Secure Sockets Layer is a protocol, which employs security encryption to protect online money transactions for e-stores, etc.

Look at the URL bar of a website — like Amazon. There you’ll see an HTTP prefix plus a little lock icon. This is an SSL protocol, which among everything else acts as an extra safety layer to protect money transfers.

4. 3D Secure

3D Secure is another safety algorithm, which helps your system figure out whether a client who pays with a card is the actual cardholder.

3D secure puts in action such extra whistles-and-bells as fingerprint authentication, SMS or PIN-code verification, and so on. If biometrics and other data match then there’s a very high chance that the transaction is safe to go.

Risk-Free Biz

We recommend you outsource setting up all these guarding walls to an expert team. They’ll do it quickly and at a smaller price than what, you would have to pay to cover false chargebacks and high-risk account fees.   

Related Posts

Maximizing Your Endurance - Tips For Mountain Bike Training
Tips

Maximizing Your Endurance – Tips For Mountain Bike Training

June 24, 2023
How to Enjoy the Holiday Season When You're Still Recovering From Alcohol Addiction
Tips

How to Enjoy the Holiday Season When You’re Still Recovering From Alcohol Addiction

April 16, 2023
Troubleshooting Guide When TV Says No Signal
Tips

Troubleshooting Guide When TV Says No Signal

April 14, 2023
Next Post
industrial service

How Industrial Services Company Can Help Your Business?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

EDITOR'S PICK

Medicare Plan

6 Tips And Tricks To Maximize Your Medicare Plan This Year

February 18, 2022
What is an ERISA Claim?

What is an ERISA Claim?

November 18, 2022
How to Negotiate Who Pays Council Tax When Renting a Property

How to Negotiate Who Pays Council Tax When Renting a Property

February 14, 2023
Online Bouquet Shop Near Me

Online Bouquet Shop Near Me

August 5, 2022

About

Enroute Editor is a social site where people can visit to gain knowledge on various current affairs, whether it may be political, technical, financial and medical. People are free to share their views by submitting comments and reviews. Happy reading!

Follow us

Law

3 Tips for Choosing the Right Lawyer for Your Case

August 24, 2023
3 Tips for Choosing the Right Lawyer for Your Case

Whether you are filing for divorce or arguing your innocence in a court of law, hiring the right attorney can...

Read more
by Sambit Barua
0 Comments

Recent Posts

Law

3 Tips for Choosing the Right Lawyer for Your Case

August 24, 2023
Health

The Health Benefits of Pursuing Your Hobby

August 9, 2023
Lifestyle

Ideas for Fun Christmas Activities for Kids

August 9, 2023
  • Home
  • Free VPN
  • Free PPTP VPN Server List
  • Privacy Policy
  • Terms and Conditions

Enroute Editor © 2021 - All Right Reserved. Designed and Developed by Crerative SEO Lab

No Result
View All Result
  • Contact
  • Technology
    • Android
    • Web Development
  • Business
    • Finance
  • Digital Marketing
  • Fashion
  • Health
    • Food
    • Fitness
  • Entertainment
  • Law
  • Travel

Enroute Editor © 2021 - All Right Reserved. Designed and Developed by Crerative SEO Lab

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In