Tips To Help Reduce Credit Card Fraud

Help reduce fraud when accepting credit cards online:

 Late night orders tend to have more fraudulent transactions then during the day

 Orders from certain countries can be suspect check with your processor for this list
 Orders in higher volume then you usually receive could be fraud. Cybercrooks don’t care how high the bill is, since they don’t intend to pay it
 Email addresses that seem to have no apparent connection to the customer’s name or include random characters could be an attempt to mask identity
 If a customer does not supply full information which includes the complete address and phone number consider not accepting this order
 If they are available, utilize CVC2 (MasterCard) and CVV2 (Visa). These two numbers are the three unique digits on the back of a MasterCard and Visa credit card. These are used in situations where the card is not present, e.g. mail order, telephone order and Internet credit card transaction.

Stopping fraud and chargebacks at the point of sale for retail merchants (card present)

 Verify cardholder’s signature to make sure it is the same as the name embossed on the card.
 Compare the signature on the card to that on the sales slip. Do not continue to seek authorizations on a declined transaction; do not reduce the amount requested and do not repeat the request
 Process refunds to your customers account quickly, always using the same credit card number from the original sale. Never give a customer a refund by cash or check.
 Make sure the information that prints on the credit card receipts matches what is printed on the credit card.