Allied Wallet

How to Protect Your Business from Payment Fraud

IntroductionAllied Wallet is a leading provider of online merchant

services and global payment processing for businesses in a variety of industries. Allied Wallet conducts 24/7 fraud monitoring on all accounts, evaluating transaction information and responding to suspicious activity in real time.

For any business involved in global transactions, fraud protection is one of the most important security measures to take. An easy way to limit fraud exposure is to use online bill payment processing instead of paper documents such as checks. Checks contain the company name, account number, routing number, and other sensitive information.

Payment FraudIf someone intercepts a company check, he or she has

all the information needed to execute check fraud. 

Switching to online bill payment is a great place to start, but it is also important to choose a trustworthy payment processor. Ideally, payment processors should use secure payment encryption on their online transactions, be independently verified, and offer some type of fraud protection service. Business leaders should also educate their employees about the dangers of giving out sensitive information online or over the phone without properly verifying the identity of the other party.