Financial Security: How to Protect Your Business from Credit Card Fraud

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Credit card fraud is one of the biggest areas of injury for business owners. According to Forbes, America has a credit card fraud problem that costs $190 bill per year. As a business owner, you can make sure that your establishment does not get caught in the crossfire. You can take extra steps to enjoy that you don’t have to suffer through millions of chargebacks and shady orders.

Verify Buyers Before You Release Product

Many fraudulent cases arise when merchants fail to correctly identify credit card holders. If you own a physical store, then it would be wise for you to ask for identification from anyone who attempts to pay you with a credit card. You can quickly ID the person who is paying with the card and then ensure that it belongs to that person.

Install Surveillance Cameras

Surveillance cameras can help you to avoid credit card fraud. Many check cashing locations use surveillance cameras and regular cameras so that they capture the image of anyone who brings a check into the facility. That ensures that they have documentation if a problem arises such as the complaint of a bogus check. You can use the same concept. The more documentation you have, the easier you can dispute a chargeback.

Printing Clear and Concise Return Policies

To avoid fraud and scams, you can print very clear and unmistakable return policies that express your unwillingness to provide refunds under certain circumstances. That documentation will help win a chargeback case in your favor, as well. Many people steal items by buying them and then conducting chargebacks. Your special security measures can keep you from experiencing harm.

Securing State-Of-The-Art Processing

Your Midwest Payment Processing system can help you to keep fraud at bay, a well. Such a system has encrypted card readers that are immune to having information stolen and stored. You can avoid a number of unfortunate incidents by making sure that you work with a reputable payment processing company that will look out for your best interests.

Handle Email Appropriately

You can handle email appropriately by using a secure provider. You must let all of your employees know that they should be careful when they are handling email. They should not open any attachments that anyone sends through the email system.

The previously mentioned tips should help you to stay on top of things. Your business doesn’t deserve to suffer, so don’t let it.

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My name is Lizzie Weakley and I am a freelance writer from Columbus, Ohio. I went to college at The Ohio State University where I studied communications. I enjoy the outdoors and long walks in the park with my 3-year-old husky Snowball.

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