MOTO – Mail Order/Telephone Order payments are gaining more popularity. Should we take it a step further? That is, should MOTO payments be encouraged more? Since, the MOTO related frauds are a concern we have to be careful. Then again, we have to do our own cost-benefit analysis.
Risks are an inevitable part of business. PurePay realises this notion. Therefore, we work with high-risk industries to help your business grow. Hence, we always believe in making your return to investment as smooth as possible. Therefore, we discuss today on how much you should emphasise on MOTO payments.
While presenting to you the risks involved, we also acknowledge how MOTO payments make life easier. Thus, MOTO life is the way that we want to promote. Nonetheless, making sure no trouble comes your way.
As you may have read in our previous blogs, MOTO related risks lie in processing the payments. Therefore, as merchants, it is your key responsibility to double-check all the transaction request you receive. Verification at multiple layers is the way to proceed.
Since MOTO payments are a form of card-not-present transaction, all information forwarding and processing are done through requests sent through mail or telephone. Upon receiving the request always check. Especially, if the amount of transaction is quite big! Your work gets easier if the request received is from a regular buyer. But, that won’t be the case always.
Therefore, MOTO processing comes with its own set of challenges. The challenges are not always destructive. Given, you are well aware of what is happening. So, how to avoid such frauds? Think like a criminal. Once you start doing so, loopholes tend to emerge easily.
Just as frustrated you may already start to be, the benefits may get you even more delighted. MOTO payments surely increase your business. How though? Isn’t it easier for your buyers to find your products and send you an email to process the transaction?
Otherwise, the buyer would have to manage time from their schedule, get out and visit your store to make payments. Even worse, what if your business is an online shop? What proof does the buyer have of providing you card information? Thus, such payment methods help you keep your business clean!
Once requests are sent via formal notification, you have a track of official records. Therefore, no one can claim products falsely. Neither can any fraud just use someone else’s card for payment. Since they will be required a detailed out information. Also, the information needs to be sent through the buyers’ own email ID or telephone number. Thus, the process makes it a safe option. Although, even after so many stages, chances of fraud are not low. So, your vigilance can never be decreased.
Being a high-risk merchant is not easy. MOTO processing related frauds occur mostly when the merchant is less attentive in processing the payments. With your business growing, it is obvious that the stress will be more on you. These are the times when a merchant makes flaws.
But why worry when you have someone like PurePay. We serve high-risk merchants through our wide range of services. MOTO processing is part of our work. Therefore, we take the trouble of processing your MOTO payments carefully. So, your business remains unaffected from frauds. Also, this buys you time to invest time in new opportunities.
Thus, being with PurePay not only reduces your risks of being affected by fraud. Also, it helps to grow your business. Adapting such new payments are also a part of your business. So, promote these new forms and let’s grow together. Join us now!