Avoiding Credit Card Fraud
The following tips may help you safeguard your business against credit card fraud:
Always ask for identification. You may ask for identification anytime you are presented with a credit card. Many cardholders even write "Ask for ID" on their cards to prevent unauthorized use. Most credit cards clearly state that they are not valid unless signed. Point this out to any shopper who has an unsigned card and say to the customer, "May I check your ID to verify your signature?" Address the customer by the name embossed on the credit card. If he or she does not respond, you should definitely ask for identification.
Learn to recognize a credit card's built-in security features. All credit and debit cards have distinctive characteristics that help protect consumers and merchants from forgeries. Each time a customer offers a card for payment, look for the following security features:
A hologram that changes color in the light.
A signature panel that resists erasure and protects the cardholder's signature.
A magnetic stripe that transmits specially coded information.
An embossed account number on the front of the card that matches the number printed on the back.
If you receive a credit card that seems suspicious, request a transaction authorization over the telephone by calling the code 10 (or "call for assistance") hotline number supplied by your payment service provider.
Utilize the Address Verification Service (AVS). Internet retailers, mail order/phone order merchants and other business owners who process card-not-present transactions should always use the AVS before they ship merchandise to customers. The service confirms numerical address information with card-issuing banks, and it returns codes that tell merchants whether the figures match.
Source: http://www.entrepreneur.com/article/0,4621,302952,00.html
Always ask for identification. You may ask for identification anytime you are presented with a credit card. Many cardholders even write "Ask for ID" on their cards to prevent unauthorized use. Most credit cards clearly state that they are not valid unless signed. Point this out to any shopper who has an unsigned card and say to the customer, "May I check your ID to verify your signature?" Address the customer by the name embossed on the credit card. If he or she does not respond, you should definitely ask for identification.
Learn to recognize a credit card's built-in security features. All credit and debit cards have distinctive characteristics that help protect consumers and merchants from forgeries. Each time a customer offers a card for payment, look for the following security features:
A hologram that changes color in the light.
A signature panel that resists erasure and protects the cardholder's signature.
A magnetic stripe that transmits specially coded information.
An embossed account number on the front of the card that matches the number printed on the back.
If you receive a credit card that seems suspicious, request a transaction authorization over the telephone by calling the code 10 (or "call for assistance") hotline number supplied by your payment service provider.
Utilize the Address Verification Service (AVS). Internet retailers, mail order/phone order merchants and other business owners who process card-not-present transactions should always use the AVS before they ship merchandise to customers. The service confirms numerical address information with card-issuing banks, and it returns codes that tell merchants whether the figures match.
Source: http://www.entrepreneur.com/article/0,4621,302952,00.html
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