How to manage Regression Testing on Production server?

As I understand the production server/live server deployment is not free for all to test, hence in my case what we do is we have some dummy accounts which are used for testing.

 

e.g. actual online shopping cart system - if it's on live then we actually need to checkout with credit card and do the payment

 

for testing we use a dummy account, when order is checked out, it is reversed from backend system