As a business owner, the last thing you want to worry about is credit card fraud. Unfortunately, it’s a billion-dollar industry, and it’s not going away anytime soon. To ensure credit card fraud doesn’t impact your business, follow these useful tips to help you minimize your exposure.
If you’re a merchant who accepts credit card purchases at your place of business, consider the following:
If you’re a merchant who accepts credit card purchases online or by phone, consider the following:
- Use all fraud prevention features available with your secured payment gateway
- Verify unusually LARGE orders before shipping. (Not many people need 500 bicycles.)
- Collect ALL the credit card information, including the name, complete address, and phone number of the account holder.
- Be wary of orders with different billing and shopping addresses, especially on large orders.
- Use address and delivery confirmation.
- Make sure your processing solution is PCI compliant.
These are just a few ways you can insulate your business from credit card fraud and the damaging effects it can have on a business. If you’re unfamiliar with fraud prevention measures your business service partner provides you, consider speaking with us about how we can help service your business.
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