Online transactions are “card-not-present” transactions. As e-commerce expands, opportunities for fraudulent misuse of payment networks and data theft grow right alongside. A PCI-DSS compliant setup along with 3D secure data security is necessary to eradicate fraudulent transactions.
Chargebacks, in addition to being costly, can damage business reputations. An excessive number of chargebacks can lead to closed merchant accounts, effectively killing the business. While chargebacks do sometimes happen for legitimate reasons, use of online payment processing would eliminate complete risk of non-legitimate chargebacks