Merchant Account Credit Card Processing - How to Avoid Fraud and Lower the Chargeback Rate?

Credit card fraud is a serious problem that results in significant loss to credit card companies and businesses that accept credit cards.

Credit and debit card processing companies Fiks Windows Flip 3d use advanced technology that ensures secure processing of transactions. They have processes in place to detect fraudulent activities. Businesses also need to follow strict guidelines in handling credit payments. Thieves often get away with fraud because of the casualness of staff at checkout counters. Some steps businesses can take to protect themselves and customers from fraud are:

Verifying the Administrator genuineness of an unusual There Is Strength In A Herd credit card activity

Credit or debit card processing companies Therapeutic Massage Research Findings keep track of the activity in an account to establish a pattern. If there is an unusual activity, such as a sudden increase in credit purchases volume, the processing company will detect it immediately and call the customer or business to check its authenticity. This helps in detecting fraud early before it could do much damage.

Verifying the address of the card holder

Many point-of-sale (POS) terminals have an option to verify the address on file. The option can be enabled or disabled. It is safer to keep this option on to have an EventID 3010 CodeIntegrity Unable To Load > CheckSUR.log Need Files additional check.

Training staff at checkout counters

Most businesses do not train staff adequately for handling credit transactions. A credit or debit card Braving Wild Costa Brava transaction is oversimplified as just a swipe and punching in of keys. The staff should be trained on the features of the POS terminals that can make transactions more secure. They should also be trained on practices such as verifying signatures, ID, etc. Making the staff aware of card fraud will make them more watchful.

Checking the ID of credit card holders

Asking for ID from the card holder is a simple and effective action to check fraud. Most businesses do not follow this practice consistently. Fox example a busy bar may not ask customers for ID every time they make a purchase.

Verifying signatures

Many businesses do not even glance at the signature to confirm the identity of the credit or debit card holder. Businesses must compare the signature at the back of the card with that on the receipt. A fraudster will be wary of a business that follows watch NCIS Season 9 Episode 12 Housekeeping online megavideo this practice consistently.

Businesses pay damages for negligence in credit transactions

In case of credit card theft or fraud, the customer is usually exempted from paying the bill and the card issuer has to bear the cost. However, credit processing at a business is treated differently. If the card processing company can prove that the business was negligent in handling the transaction, by not checking the ID or signature, the business is held responsible for the mishap. The business may have to pay fraud-related damages to the credit card company.

Common fraudsters rely Diet And Sperm Quality on the negligence of businesses to get away with their crime. Credit New KVM Based Win7Pro And 7.6.7600.320 card Upgrade Windows 10 fraud is rampant, and the only way businesses can protect themselves is by following simple tips mentioned above and staying extra vigilant.

Daljeet Sidhu is at TradeSeam. Read our website credit card processing advice. Compare credit card processing business quotes. Sellers JOIN for sales lead generation.