Chapter 7 Question 6

6. What are the primary payment risks in e-business and how do firms reduce the risks?

The biggest problem is that vendors are not protected by the payment (credit card) companies. Savvy vendors are careful about verifying credit cards, matching shipping addresses to credit card addresses, and avoiding high-risk areas. Getting external confirmation from the purchaser for high-ticket items is also useful. Such as using third-party escrow services or calling customers on the phone and recording the assent.