Of course, consumers are most affected. While consumers are generally not liable for fraudulent charges, it can take years to recover from identity theft, not an easy task. The victims of the consumer can be beaten with higher interest rates, credit or even be rejected. The credit card companies would have us believe are the main victims. To some extent, this is true. If you are looking at pure numbers, they are losing more money. But credit card companies are to recover their losses through higher interest rates and fees. And pass the ball to retailers that accept credit cards fraud. Charge backs with credit card can completely eliminate their profits.
What can you do to protect your business and your profits?
The first thing you should look at their cash on the front of the card. Most credit cards have holographic images on the front. Banking should also check to make sure that the numbers in relief have not been altered.
The scammers sometimes use an iron to remove some of the numbers and then highlight new card numbers. Then they will distort the magnetic strip so it does not blow. That forces the box to manually enter the card numbers. If the card does not swipe your card for any reason, make sure that the cashier receives an impression of the card and the print is legible. This will serve as proof that the card was physically present in case there is a charge back. If the record does not automatically require the verification, ensure that the teller does not.
The next thing a clerk in job should do is check the back of the card. The signature strip has multiple colors and / or the name of the credit card company. Fraudsters have been known to remove a band of signature or cover with Wite Out ® and sign the name of the cardholder. Speaking of signatures, the cashiers should always match the signature on the back of the card with the customer's signature on the receipt of cargo. This can be done while the customer's signature, to avoid the appearance of distrust. Now if the signatures do not match, it is perfectly acceptable to ask for photo identification. What if no signature? Technically, the credit card is valid unless it is signed. It says on the back of the card. Most credit card companies suggest that requiring a photo ID instead of denying the transaction. If a customer does not want to show his ID, then you have to make a decision. Are you willing to risk a charge back? If this is a big operation, is probably not a good idea.
You can choose to stop slide smaller transactions in the interest of customer satisfaction. The last thing you should do a cash card before handing over is to make sure the card number on the receipt matches the number on the card. Not too difficult to reschedule a magnetic strip with a credit card number stolen.
Most of its credit card transactions are without a problem. If a client has not signed the credit card, make it less uncomfortable by suggesting she signs the card and also put on ''Search ID'' on the signature strip. He explains that if you lose the card, someone can sign their names and signatures could match. And explain that you are trying to protect her. Most customers will appreciate this.
Protecting your business from charge backs is very simple. Checking the front and back of the card and verify the signature only takes a few seconds. Have the expectations for their employees and continue to ensure that they are doing their part. Involve your customers by providing tips to help prevent fraud. Then you can enjoy its benefits without the fear of charge backs.
