The EMV liability shift has come and passed. If you haven't upgraded your paymentterminal, you could be liable for costly chargebacks by accepting fraudulent credit cards. Here's how to stop fraud before it starts:
- Damaged Magnetic Stripe. Before manually entering the card number, ask for ID or another card.
- Hologram Sticker. The sticker forged on cards often has a dull two-dimensional look. This is hard for a thief to duplicate and simple for you to spot.
- Microprint. Typically, the microprint duplicates the first or last four numbers of the account number. This level of security may seam extreme, but this small detail nabs close to 80% of all thieves.
- Signature Strip. The strip should be a different material than the surrounding plastic. It may be easy to forge a signature, but duplicating the genuine material is not so simple.
- Suspicious Behavior. Don't be fooled by the kindly old gentleman or mom with an adorable baby... anyone can be a criminal. Customers behaving nervously, creating distractions, or rushing the purchase are warning signs.
What Heartland Does to Protect and Warn You About Chargebacks
• Makes sure that reported cards are closed
• Monitors for issuer/customer abuse and looks for patterns
• Monitors for incomplete or incorrect disputes
Posted by Kelly McCahon