12 Tips for Merchants to Fight Credit Card Fraud at the Point of Sale

It’s well documented that accepting credit cards is good for business, but there is one snag to accepting credit cards that every retailer knows and fears: fraud.

Credit card fraud can come in different forms, but they are avoidable if you know what to look for. These 12 tips will help you fight credit card fraud.

1) Educate Your Employees About Fraud

You need to be aware of fraud to avoid it, but so do your employees. You both make up the first line of defense. Train your employees well to know the signs of potential fraud and remind them periodically to always stay alert.

2) Compare Signatures and Ask for Identification

Very few retailers take the time to glance at the signatures anymore, but it’s simple and quick. Check for misspellings and make sure the name on the card matches the signature. Address the customer using the name on the credit card. If he or she doesn’t respond, ask for a photo ID and compare those signatures.

3) Ask to See the Card

Look for the card’s security features, such as a clear hologram with a moving picture and the Bank Identification Number above or below the first four digits of the account number. Check the numbers themselves for signs of alteration and look for signs of tampering on the signature strip.

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