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Posted by Robert L Bass on June 18, 2009, 3:35 pm
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"Frank Olson" wrote:
>
> So what's the deal? If we'd processed the cards (and they turned out to be
> stolen), wouldn't the transaction be denied?
If you process an order and the card turns out to be stolen the real owner of
the card will eventually notice the transaction and file a chargeback request.
Your credit card processor will take the money back from your bank account and
you will then be left trying to find the perpetrator... in Sudan or someplace
like it.
> He gave me the CRV numbers, expiry dates and the name on the cards. Doesn't
> this mean that he's actually in possession of the cards?
Not necessarily. He may have cracked some website's security and stolen not
only the cc# and expiration dates but even the CVV2 code. Many sites,
including ours, do not retain the CVV2 code. The data is sent from the
encrypted page directly to the CC processor and is not recorded locally. This
helps reduce fraud but it doesn't stop it entirely.
> Still and all, I am glad we insisted on using Paypal to process this
> transaction. There was obviously something not quite right about the whole
> thing.
PayPal is no more secure than Auth.net or any of the other processors.
--
Regards,
Robert L Bass
==============================>
Bass Home Electronics
DIY Alarm and Home Automation Store
http://www.bassburglaralarms.com
Sales & Service 941-870-2310
Fax 941-870-3252
==============================>
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