With Covid-19 on the rise so is e-commerce fraud. Merchants need to be aware of BIN and Credit Card testing that could take place on their e-commerce website and should protect their payment gateway from this costly fraud.
E-commerce fraud is costly and credit card testing along with BIN attacks can leave merchants having to pay the transactions fees incurred if their e-commerce website is hit with credit card testing. Card testing is common, but both of them are not always an easy form of fraud to spot because it usually takes place in the middle of the night with automated bots when most e-commerce website owners are sleeping and may not be actively monitoring their website activities.
Below is a list of items that should be deployed either by your merchant processor or by the website owner.
For example Woo Commerce has the following plugin Woo Manage Fraud Orders and NMI a high risk payment gateway offers iSpyFraud.