Fraudsters can get long lists of stolen credit card numbers, expiration dates and even ZIP codes and CVVs. However, this data is useless to the fraudster until they can verify which ones are still valid and active.

To accomplish this, the fraudster finds a simple webpage where they can run small test transactions (usually automating thousands of transactions in a very short time). This process is known as “card testing”. 99% of these transactions will decline – however, the 1% that do go through are now this hackers’ golden pass to his new Yacht or Rolex watch!

So how does this affect me – I don’t sell Yachts or Rolex watches?!Your website can be a victim of such card testing! This can be very expensive – paying transaction fees on 20,000 declined transactions! Moreover, if even one transaction gets approved you will have to deal with chargeback nightmares. If you think this is something that rarely happens – you are sadly and badly mistaken. Card testing fraud is up 200% this year…

So how can I protect my website from card testing?

The first line of defense is implementing simple solutions like Cloudflare and Google’s reCaptcha to prevent automation tools from processing transactions in the first place.

For out-of-the-box websites like WooCommerce, BigCommerce, Gravity Forms or Give, make sure you have the latest versions of the reCaptcha plugins installed. Even ecommerce sites that require ‘User Logins’ must have protection in place – as fraudsters can simply create an account and begin the fast-paced feeding-frenzy of card testing.

For custom software and websites, ensure that you are using a developer who is familiar with spam protection. Feel free to have you developer reach out to our team for assistance.

The second line of defense is your gateway fraud module. Every gateway has fraud prevention modules that are designed to prevent velocity card testing. Be sure to set proper rules in place. As always, reach out to our knowledgeable representatives for assistance.

Lastly, stay alert! If you are getting a barrage of transaction emails, don’t ignore them – reach out to us immediately. Unfortunately, once you are a victim of card testing, you are more likely to have another attempt in the future, as your website will get passed around as an easy target.

Stay safe! Moishe

Last week I received an email that thankfully I am blessed to receive from time to time but for some reason this time had me doing some deep introspection.
Here, let me share the email with you: 

You see… someone took the time to locate the email address of the CEO, put together an email and share a positive experience just because they were grateful!   [When was the last time I did that?!]

People are most vocal when they are angry and unsatisfied, not when they are happy. Think about it: If you have a positive experience, chances are you’ll leave happy, maybe tell your spouse or a friend, and then you move on. Even if we know we should do the right thing and compliment, most of the time it doesn’t happen. You blink and a week has gone by, and next thing you know—out of sight out of mind.
 
But if you have a bad experience? That’s a different story. Everyone is sure to hear about (and more than once!).

Question:  When you see a product on Amazon that has 500 positive reviews and 20 negative reviews – which reviews do you believe?

Signing off for now… I have a few vendors that I’ve never told how grateful I am for their great service. Happy Tuesday & Happy Selling!
Kevin

A recent random conversation with an old friend has been circulating in my head over and over like a Kars4Kids jingle… Here’s how the conversation went:

Friend: “Kevin, when was the last time you fell off your bed in middle of the night?”

Me: “I can’t remember ever falling off my bed.”

Friend: “When you go to sleep at night do you have any fear whatsoever of falling off your bed while sleeping?”.

Me: “No.”

Friend: “Would you lay down and fall asleep on a bed that was securely fastened to the edge of the roof of the Empire State Building?”

Me: __________________________________ (Passed out just from the visualization…)

If you saw someone lay down on such a bed and sleep soundly – would you think they are psychopaths with zero value for human life? Or would you say that they have amazing strength and control over their mind and feelings to be able to completely eradicate irrational fears that are not grounded on facts or logic.

So many decisions we make, or decisions that we put off making are due to fears of “What if I fall off the bed?” or similar irrational worries.  I have sat with business owners who were presented with solutions that would save them tens of thousands of dollars and/or streamline their processes and increase productivity and yet fail to make the move due to “What if I fall off the bed?” worries.

So, where are you sleeping tonight? Happy Tuesday & Happy Selling!
Kevin

The more we support our small businesses, the better we make our communities – especially now.  American Express has launched a new offer to encourage Card Members to “Shop Small”.

Your customers – Amex Card Members – can get $5 back in the form of a statement credit after they spend $10 at small businesses – in-store and online – up to 10x (for a total credit of $50!).

Visit AmericanExpress.com/ShopSmall to download your toolkit if your business is eligible for the offer and add or update your business to the Shop Small® Map at AmericanExpress.com/PublicProfile. Spread the word and encourage your customers to enroll their Amex card by 7/26/20 and spend by 9/20/20.

If you need any assistance with this offer, feel free to call Banquest support team at 855.323.8300 or email us at support@banquest.com.