You know how a lot of people are scared of flying, even though it’s statistically safer than driving? The same paradox exists for international transactions including credit cards, debit cards and wire transfers. Indeed, online purchases are statistically safer than using your credit card at a local restaurant or department store.
Please allow me to point out a few reasons why you are 100% protected when you make a online purchase. Additionally, these things I will outline below can be verified directly with Visa or Mastercard and also your issuing bank.
1) Chargeback Mechanism – Both Visa and Mastercard have this feature. If the customer reports an unauthorized charge or they were somehow swindled in an online purchase the credit card company will reverse the charge and credit the full amount back to your account. If it is fraud, then you are 100% protected.
Furthermore, the credit card companies are overly biased towards the consumer. So much so that there is an issue with what is called “friendly chargebacks”. Unfortunately, some of the more sophisticated online shoppers know that the credit card company will side with them if they report the charge was unauthorized (even if it was clearly authorized). Therefore, they receive the product and get a full refund. It is the perfect crime, but fraud nonetheless.
2) 3D-Secure (3DS) – this can be implemented on your credit card if you do not have it already. The way it works is that during the checkout process you will be redirected off of my website and asked to insert a one time password that you will receive on your mobile phone. Or sometimes, your bank will prompt you to use the password that you have on record with them. This protects both the consumer and the merchant from unauthorized charges.
3) Hidden Credit Card Number – at no point during the transaction does your bank release the full credit card number. They only authorize the charge and transfer the funds. The only numbers that I will ever see are the last 4 digits. Even the receiving bank and my payment gateway never see the entire credit card number.
That said, with online transactions such as this it is the merchant who is most at risk of getting ripped off. In general, credit card fraud or identity theft occurs when your FULL credit card number or FULL identification number are somehow stolen by hackers or someone who has access to them. For example, your bank, local department store or employer accounts get hacked. Otherwise, it is not possible to make an unauthorized transaction without the full credit card number. Additionally, with 3DS you have an additional layer of protection.
4) Singapore Incorporation – My company “Go Global Corporation PTE LTD” is incorporated in Singapore. Singapore has the lowest crime rates in the world and the harshest penalties imaginable for any kind of criminal activity. It is very unlikely that you would be ripped off by a company incorporated in Singapore. Additionally, my bank account is located in Singapore. My company incorporation can be verified directly with the “Accounting and Corporate Regulatory Authority” (ACRA). Also of note is the fact that my payment gateway “Smoovpay” is incorporated and based in Singapore.
Rest assured that credit card fraud works both ways. Therefore, I am also always on the lookout for suspicious transactions. If your credit card is not 3DS registered I will need to verify the shipping address and last 4 digits of your credit card number. Please understand that this is necessary to protect both the merchant and the consumer.
5) Secure Sockets Layer (SSL) Encryption – Technical experts state that online purchases are far safer than traditional credit card transactions because the information is immediately encrypted into a scrambled message that can only be decrypted by an authorized computer.
Our servers are protected with a firewall and also the latest SSL/TSL security encryption technology. This ensures that any of your personal information which is transmitted to us is encrypted at all times and can only be viewed by us. The latest SSL/TSL encryption technology is also incorporated into the internet browsers. You can verify this at all times in the browser window by viewing the HTTPS at the front of the URL. Every page on this website is encrypted, not only the checkout pages!
Rest assured that I will do everything possible to make sure you are 100% comfortable with your application process at all times.