Payment fraud is a real issue for small business owners. Your best defense? A good offense.
Being proactive helps protect your business against criminal activity. Payment fraud can happen in three ways:
• Fraudulent or unauthorized transactions
• Lost or stolen merchandise
• False requests for a refund, return or bounced checks
Luckily, there are steps you can take to help limit or prevent credit card fraud:
• Require customers to input the CVC code for all online transactions
• Be aware of suspicious activity in store and online
• Ask the customer for ID before completing the transaction
For more information, please visit our blog.
– Jessica Chin, Precision Payment Systems