Card not present credit card processing
Card not present merchant account
(CNP) card not present credit card processing is, as suggested in the title, transactions that happen without the card being physically present when making payment. The four most common types of card not present processing include;
- Mobile contactless payments
- Telephone orders (MOTO)
- Mail Orders (MOTO)
- Electronic payments, such as pre authorised reoccurring payments or payments made when shopping online
Customers and clients will give the following information to allow the merchant to complete the CNP payment. This is typically done over the phone or via the internet; Long card number, expiry date, security code and billing address. The acquiring bank will then review this information before authorising the payment and therefore finalising the sale.
Risk involved in card not present payments
Card not present payment processing comes with slightly higher risks compared to accepting face to face payments. The main reason for this is that card not present processing carries increased risk of fraud. This is tends to happen in two different ways;
Credit card fraud – orders being placed using a stolen card or the customers card without consent.
Chargeback fraud – products or the service is received by the customer, however they tell their bank otherwise, meaning they receive a refund. IMPORTANT – we have put together a short guide to help reduce chargebacks.
CLICK HEREFinding a merchant account and payment gateway for CNP credit card processing
At Merchant Advice Service we work with a team of UK based experts to aid businesses in accepting card not present payment processing. Our advisors can help both high risk and low risk companies find a suitable merchant account and payment gateway for business needs now and in the future. Speak to us about your requirements today.
CALL USLibby James
Merchant Services Expert
Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!
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