MOTO payments are EFTPOS transactions where the payment card used is not present. It is often used for payments made over the phone.
For many of my clients, this is a major source of income.
Besides having higher fees than regular credit card transactions, they can also be trouble as yesterday one of my clients found out. As the card was not there when the transaction occurred when the customer complained, it was my client's responsibility to prove that the actual cardholder authorised this transaction, This was impossible to do. A chargeback was done. The transaction cancelled. The goods sent are lost.
The problem is that for many of my clients there is no alternation but to accept MOTO payments
If so here are some tips that the bank sent, that might help by giving you some warning signs, so I thought I would share them here:
- If the delivery address does not look right
- Overseas orders
- Orders from people claiming that they cannot be contacted
- If a transaction is big or has orders for large quantities of the same item that do not seem to fit.
- If the same person starts giving you in a short time many orders
- If the orders are required urgently
What can I say but be careful? Accepting MOTO payments is a business decision.
