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Four Tips to Prevent Fraudulent Payment Transactions

Althougprevent-creditcard-fraudh rare within school settings, fraudulent payment transactions happen.  And since online giving pages are open to the public, fraudsters sometimes use these sites to “test” cards, meaning they run small dollar amounts to validate cards or pursue a larger transaction scam. Be aware! Block these transactions and save time and money for your school.

Here are some tips for preventing payment fraud:

  1. Check your settlement reports and transaction notifications and reports daily. Make it a team effort if you have a large number of transactions to review.
  2. Ask your web application providers to add a CAPTCHA to your web page. This deters fraudsters from using your site.  It also can prevent computers from testing cards.
  3. Require address and/or card code verification (CCV) at time of payment. Although this suggestion might increase your amount of declined transactions, it definitely lowers fraud risk.
  4. If you are a Diamond Mind client, iSpyFraud software with Network Merchants allows schools to anticipate fraudulent activity through a variety of tools designed specifically to help protect against these kinds of transactions. We strongly advise that all schools with public online giving pages consider adding iSpyFraud service. To add iSpyFraud or speak with us about protecting your account, please call us at 888-566-9045, x444 or email us at

If you suspect payment fraud on your account, contact your payment processor as soon as possible.  For Diamond Mind clients, we have an emergency line if you need to reach us after hours: 888-566-0945, x222. We will report the activity to all of our necessary partners on your behalf.

Independent schools share common interests regarding online payment acceptance. Share your thoughts and learn from your peers!  Participate in a tuition payment acceptance survey HERE.