Originally Posted by X9kevin
I was thinking of looking into Google Checkout, but with this mentioned I think I will wait to see more reviews on their system.
It depends, we use PayPal and 2CO (for CCs) which is much better than processing the CC ourselves and having fraud issues. However even with 2CO this same issue comes up since fraud checks take a couple of hours to process. Luckily most people do not register a domain name and we just mark it as fraud.
My best advice is go with Google Checkout or whatever means of affecting cash you choose and use something like MaxMind BEFORE the transaction is even completed to catch fraudulent users before they can even enter false CC info. MaxMind is cheap, automated and catches about 90% of fraudulent users. The rest get caught by 2CO which is about 1 in 20 sign-ups.
The risk is always there but if you get more business due to Google Checkout or what have you...it can be worth it with some fraud check of your own.