Find Out The Well Known Moneylender In Singapore

Various types of payday loans are much popular in the present day with more and more people looking for quick short term loans. The popularity is mainly due to the ease people have in getting the loans. When you require money to pay bills, this kind of loans helps you largely in meeting your needs. You need not wait till your salary date and it is easy to get these loans and solve your money needs.

 

Payday Loans Are Helpful

 

Many people manage their expenses using their monthly income. They need to wait for the next salary day to meet any immediate needs for money. For such people payday loans of well known licensed moneylender Singapore are ideal options. An emergency like hospital expense cannot be avoided and loans offered on a short term basis can help in such situations. It is now possible to manage money requirements without borrowing from friends or family member. You can simply get a payday loan and take complete care of your problem in quick time.

How Payday Loans Work

 

Payday loans of reputable moneylender Singapore do not have any minimum loan amount. Any person who is above 18 years of age can get as little as $50 and pay it immediately. The interest rate is high and is only for a short term and the borrower has to repay the loan amount within the specified time. When the paycheck comes, you can clear the loan amount and it is highly flexible. Make sure you get loan amount that you can repay on the pay day.  As the loan amount comes in hand within 24 hours, it is highly convenient to manage any emergency situation. To get the loan you need to meet the following criteria

  • Your age should be above 18 years to get the loan.
  • You should an active bank account.
  • You should have a regular monthly income.
  • You should be the resident of the country you are applying the loan.

Payday loans are answers to many people who face economic slowdowns. According to surveys, the number of people who get this kind of loans is increasing every day. Loans are approved in instant time and delivered quickly. It is always good to check out famous money lender in Singapore for these loans. Depending on the lending companies, the loan amount reaches your hand. The maximum time you can wait is for 24 hours. It is great to have these payday loans to provide financial support.

Online Fraud Prevention: How to Deal with Card Testers

Recent times have seen the rise of a new form of e-commerce fraud, card testing. While early forms of credit card theft involved manually sifting through hundreds of stolen accounts, criminals now have a more reliable way of making use of their ill-gotten cards.

Credit card testing involves loading account data into automated programs to submit small-dollar orders on multiple e-commerce websites simultaneously.

These programs can rapidly test which accounts are still active and use them to make as many purchases as possible before the’ credit card provider ultimately closes them. The result is heavy losses to the merchant due to numerous chargebacks and false-positives.

Combating test transactions is a tricky endeavor, but the situation isn’t entirely hopeless. Below are a few effective tips to minimizing the risk of card-testing fraud.

 

  1. Knowing what to look for

Fraud rings are investing in complex software resources that can be used to test large batches of accounts quickly. Consequently, card testing happens at lightning speeds and often goes undetected.

Nevertheless, although you can never be entirely safe from internet bots and scripts, you can minimize the impending losses by paying attention to some common red flags.

  • Small value transactions – Card testers usually order small-value items that are likely to raise little suspicion. Cheap recurring transactions can be an indication of an ongoing testing operation.
  • Multiple transactions – Fraudsters use bots to run many cards through a website in a short period.
  • Failed authorization attempts – The trial-and-error nature of card testing typically results in multiple transaction failures.
  • Multiple credit card brands – Rapid switching of credit card brands may point to card testing.
  1. Implementing AVS and CVV checks

Enforcing Address Verification Service and Card Verification Value checks are effective ways of minimizing the risk of credit card testing. A mismatch of the address provided by the customer to the billing address can indicate fraudulent activity in which the client is using a stolen card. Similarly, validating the security code on the back of the card (CVV) before authorizing a transaction can verify that the customer is in possession of the actual card.

  1. Two-factor authentication

Adding an extra layer of security to a customer’s log-in process can go a long way in preventing card testing. On top of a username and password, you can include measures like entering a security code sent to the customer’s phone or email. Additionally, you can make use of Google’s reCAPTCHA software, which differentiates human users from bots with simple, low friction tests.A payment page should always use more than one method of user identification.

Summary

Credit testers pose a real threat to online trading but with the right measures, a merchant can effectively manage the risk. Moreover, the new crop of payment service providers offers subscribed merchants proper fraud protection tools to better deal with credit card testing. eMerchantBroker, for example, offers a comprehensive package with features like AVS and CVV, chargeback detection and other useful services.Are you an online merchant? Follow the tips above, and shield your business from credit card testers.