Pls Read: Online Transaction Loophole?

Hi Guys!! I found it absolutely surprising to make an online purchase with an invalid billing address and still my order was approved by the merchant - i've just purchased a download from a leading anti-virus software provider and mistakenly entered a completely wrong billing address and still my order was approved.





It makes me feel worried about the high risk of fraudulent activity loopholes online digital product providers contributes to ecommerce in general.





Can anyone supply me with any online store that will not allow the kind of transaction i have just experienced (i need a store that will decline transactions when billing address isn't valid or compatible with banks record); before i put an end to ever transacting online.





I need a prove to be re-assured that all stores ain't the same. Only provide store links pls.

Pls Read: Online Transaction Loophole?
Slow down and examine the risk.





In the US, federal law protect credit card holders. If your credit card is physically lost and you fail to notify the credit card issuer, you are then liable for only the first $50 of fraudulent purchases. If you card is physically lost and you notify the issuer before any unauthorized charges occur, then you are liable for $0.





If you have not physically lost the card, you have no liability for unauthorized charges at all. If you credit card number is stolen and some merchant accepts it, that is the merchant's problem, not yours.





That is why some merchants choose to verify your address and some do not. A software provider as an example, has no cost in providing the additional copy of the product. If the charge turns out to be fraudulent and ultimately get charged back, there is very little loss to the merchant. On the other hand, if I am selling you gold bullion, you can bet I will verify your credit card, before I ship the gold!





As a merchant, I accept credit cards all the time. When taking a number over the phone, I verify the address, but if the verification fails, I can still accept the transaction....If I want to accept that risk. The risk, of course, is the risk of a charge back.





I find it really interesting the way that the banking industry has gotten us for worry about identity theft, when the bank industry bears 99% of the risk. The card holder has little or nothing to worry about.





I had some unknown person purchase a big screen TV using my credit card number. Since I still had the physical card and the charge was fraudulent, I simply had the charge removed from my account.





Warning! The above rules apply only to credit cards! Debit cards do not enjoy the same protections. If someone gets your debit card number, they can empty your bank account!

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