Credit Card Fraud is a problem most of us do not think about - until it happens to You. If you provide the ability for your customers to pay be credit card whether it is e-commerce, virtual, face to face or mail order /phone orders you are susceptible to fraud. There are ways your can protect yourself from would be thieves.
Swipe or Insert Cards Whenever Possible - Most Credit Cards are embedded with Chip and Pins to protect the cardholder and you the business holder from fraud. When you manually key in a transaction you should take an imprint of the card, cardholder's signature , proper authorization from the card holder and your business information should be recorded.
Complete the Authorization - Verify the card holders signature and ensure the card is authorized before handing over merchandise
Ensure Cardholders Billing and Contact Information Matches for Card not present transactions - If a customers Shipping and Billing address are different you may need to contact the customer to verify. This can be a warning sign. Be sure to further investigate before sending out merchandise.
Examine the Orders - Watch for people who are eager to order whatever products you have, if they are spending an unusually high amount, if they are using more then one card to complete payment. Train your staff to watch for Red Flags
Each Card Brand has Specific Features - know what to look for - ASK for verification AMEX - the 4 Digit CID number printed on the front of the card. VISA ask for the CVV2 code, MasterCard ask for the CVC2 Code located on the back of the card.
Visit the Following Links for Specific Information Regarding These Cards :
P.O.S. West Ltd. is a Global Payments Direct, Inc. Partner and Registered MSP/ISO of Wells Fargo Bank, N.A., Walnut Creek, CA. P.O.S. West Ltd. is a Global Payments Direct, Inc. Partner and Registered MSP/ISO of BMO Harris Bank N.A. P.O.S. West Ltd. is a First Data Canada Ltd. Partner and Registered MSP/ISO of Wells Fargo Bank, N.A., Canadian Branch, Toronto, ON, Canada. P.O.S. West Ltd. is an Elavon Payments Partner and Registered MSP/ISO of the Canadian branch of U.S. Bank National Association and Elavon.