SMEs don’t accept any responsibility for fraud
Almost all small online businesses do not believe they are liable for fraud on their websites, according to research sponsored by PayPoint.net.
The company found that 99 per cent of the 350 companies they surveyed did not accept any responsibility for fraud, with most passing it on to someone else.
Most blamed banks (35 per cent), nearly a quarter (24 per cent) blamed credit card companies while 23 per cent laid the blame on payment service providers.
However, 87 per cent did not anticipate complaints about fraud to reduce in the next year and 81 per cent of consumers are suspicious of security systems used by small companies, potentially pushing customers towards more familiar, big-name companies.
PayPoint.net managing director Alessandro Hatami said: ‘Small online online businesses lack the resources of their larger competitors but have an even greater interest in ensuring that customers have the safest possible experience.’
The company suggest comparing the IP address of the PC being used by the customer’s location with the billing and shipping address to improve security.
Small companies should also comply with the Payment Card Industry Data Security Standard.
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Tags: banks, consumers, credit card companies, data security, fraud, ip address, managing director, payment card industry, payment service providers, possible experience, security systems, shipping address
[...] icanews.coop | the global co-operative news centre wrote an interesting post today onHere’s a quick excerpt Almost all small online businesses do not believe they are liable for fraud on their websites, according to research sponsored by PayPoint.net. The company found that 99 per cent of the 350 companies they surveyed did not accept any responsibility for fraud, with most passing it on to someone else. Most blamed banks (35 per cent), nearly a quarter (24 per cent) blamed credit card companies while 23 per cent laid the blame on payment service providers. However, 87 per cent did not anticipate [...]