dickbaker - 3:31 am on Nov 10, 2010 (gmt 0)
The automated systems are fine for very low-priced items, but I like to get a human on the phone for anything over $200.
Btw, for customers purchasing over $1k if you have to do a conference call for any reason you are going to be losing more orders then if you just put it through.
I either get the customer on the line with the credit card company, or have the card company call the card holder. Either way, I want it in the customer's file that he/she authorized the purchase.
A friend of mine has an online store, and just uses the CVC codes and his terminal. He does about $100,000 a month in gross sales, but loses $15,000 a month in chargebacks.
As I said, I've been burned a couple of times, but not since I've implemented the rules I mentioned for purchases.
I still think that a bank that won't do verifications should be the one taking the risk, not the merchant.