How To Prevent False Credit Card Declines

1. How To Prevent False Credit Card Declines? There is nothing more disappointing than your credit card getting declined when you try to make an online purchase. Did you know that over 1.9 billion transactions are declined annually? As a merchant, you cannot afford declines when it comes to credit card processing because customers can at times be very impatient. And a delay or decline in the credit card transaction process can lead to you losing business. So, along with knowing how credit card processing works, you should also know how to prevent false credit card declines. There are two types of credit card payment processing declines. Soft declines are caused due to the temporary lapse of the network or insufficient funds. It can be resolved when you try to make the payment again. Hard declines on the other hand are caused due to issues like a security breach and may take some time to get resolved. Mentioned below are a few ways in which you can prevent false credit card declines. Manually review high-risk orders Manually reviewing your orders is perhaps one of the most efficient ways of identifying fraudulent orders. However, this is a time-consuming process and may require the services of a person who knows things well. Understand the reason behind the decline There are times when your system is designed to decline payments that are exceptionally large. Understand the reason behind the decline and optimize your system to avoid the possibility in the future. Don’t assume things Don’t reject orders based on the assumptions you have in mind. Contact customers to authenticate Validating the purchase by contacting your customer will prove helpful to you as well as the customer. Employ fraud protection Fraud protection algorithms scan every transaction and help you identify and prevent false declines in the future. We hope this article will prove helpful when you decide to under online credit card processing and false declines better.