In today’s fast-paced world, accepting card payments is a must for any business. But with convenience comes responsibility—especially when it comes to protecting your business from fraud and chargebacks. At KORT Payments, we want to make sure you’re equipped with the knowledge and tools to keep every transaction safe, whether your customer is standing at your counter or shopping online.
Card-Present Transactions: In-Store Security Essentials
When your customer and their card are physically present, risks are lower—but not zero. Here’s how to keep each sale secure:
- Always Use Chip or Tap: Insert or tap EMV (chip) cards instead of swiping. Swiping a chip card can make you liable for fraud.
- Watch for Red Flags: Check for missing signatures, mismatched names, or customers trying multiple cards. If something feels off, verify ID.
- Pay Attention to Decline Codes: Messages like “DECLINED,” “PICK-UP CARD,” or “CHIP ERROR” can signal fraud. Limit transaction attempts to three.
- Say No to Manual Entry: Only manually key in card details if absolutely necessary. This method isn’t protected against fraud or chargebacks.
- Provide Receipts: Always offer a receipt—this can help resolve disputes down the road.
- Secure Your Terminal: Never leave your payment terminal unattended. Keep an eye out for tampering or suspicious attachments.
- Educate Your Team: Make sure every employee knows how to spot and handle suspicious transactions.
Card-Not-Present Transactions: Online & Virtual Sales
Remote transactions come with higher risk. Here’s how to protect your business and your customers:
- Enable AVS & CVV: Use Address Verification Service and require the card’s security code for every transaction.
- Implement 3D Secure: Add extra authentication layers like Verified by Visa or Mastercard SecureCode.
- Set Transaction Limits: Limit the maximum amount for any single transaction to reduce potential losses.
- Monitor Activity: Watch for unusual transaction patterns or high-frequency orders from the same account.
- Verify High-Risk Orders: For large or suspicious orders, confirm details with the customer or require additional verification.
- Keep Records: Save order confirmations, shipping details, and customer communications to help resolve disputes.
- Use Secure Technology: Protect your website with HTTPS, firewalls, and up-to-date security plugins.
Proactive Communication and Policy Management
- Clear Billing Descriptions: Make sure customers recognize your charges to avoid unnecessary disputes.
- Transparent Terms: Clearly communicate all policies—subscriptions, shipping, cancellations—before checkout.
- Stay Informed: Keep up with the latest industry trends and update your fraud prevention measures regularly.
Final Thoughts
Protecting your business from fraud isn’t just about technology—it’s about smart processes, informed staff, and proactive communication. At KORT Payments, we’re committed to helping you process payments securely and confidently. If you have questions about payment security or want to review your current setup, contact our team for a free consultation.
Ready to safeguard your business? Let’s talk about secure payment solutions that fit your needs.