Credit card fraud is a matter of great concern to both,
the cardholders, and us - the merchants who sell the
merchandize. A majority of credit card frauds is carried out
online. A majority of the Internet businesses agrees that such
frauds are the most significant problems their businesses face.
The increasingly sophisticated encryption systems, verification
services and transaction-processing technology, are making such
frauds more difficult.
Safeguarding My Business against
Credit Card Fraud Here
is how I safeguard my business against credit card fraud:
Ask for identification - I always ask for identification from
the customer. Credit cards are usually not valid until signed.
If presented with a card without a signature, I point this out
and ask to see the ID to verify the signature.
Being aware of the credit card's safety features - Many credit
cards have built-in safety features to protect the cardholders
and the merchants against fraud. I check the credit card
presented to me for:
- A hologram that changes color in the light.
- An embossed account number on the front of the card that
matches the number printed on the back.
- A magnetic stripe that transmits specially coded
information.
- A signature panel that resists erasure and protects the
cardholder's signature.
Use the AVS - I always use the Address Verification System (AVS)
before shipping out the goods. The system checks the address
with the card-issuing bank to ascertain if the figures match. It
is very simple to use and the information received by me helps
me make an informed decision about the transaction.
Taking an Active Role in
Credit Card Fraud Prevention As
a merchant, I can do a lot to prevent credit card frauds. I take
a few simple precautions, such as matching the signature or
account number on a customer's credit card. As a merchant, I am
the first line of defense against such frauds.
Jon Sterling tries to
help you overcome
Credit Card Fraud
problems through informative articles to help you reach your
personal financial goals.
About the author:
Jon Sterling tries to
help you overcome
Credit Card Fraud
problems through informative articles to help you reach your
personal financial goals.
