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BizEdge Advantage Blog
   8 Tips for Merchant Credit Card Processing Account Safety

Saturday, October 15th, 2011  |  no comments  |  B.J. Kharrazi

Credit Card Fraud in Los Angeles

A Los Angeles merchant credit card processing account is critically important to your business’s success. In addition to being able to accept cash and checks for payment, it enables you accept debit and credit card payments. However, while there’s many great benefits in accepting credit cards, there are also potential pitfalls. A few things that you need to consider in order to avoid fraud and charge backs follow.

  • Exercise caution in your International transactions. I’ve had problems with Eastern European, some Asian and other developing nations. The major culprits in fraudulent purchases live in those areas. Be especially wary of an order for a large quantity of high priced items.
  • Insist upon getting the CVV number.This number is located on the back of the card, on the signature line, following the 16 digit card number. Card companies estimate that somewhere around 25% of charge backs can be avoided by demanding that number. Some credit card processing services will refuse to authorize a transaction without it.
  • Look suspiciously at orders for your most expensive items with a request for overnight shipment. This is especially appropriate if the items can be easily converted to cash on the street. This applies to very large orders as well.
  • Don’t hesitate or be afraid to exercise extreme due diligence with suspicious orders. It’s imperative to verify the customer and his address If you get an order that is out of the ordinary, seems strange, or just doesn’t feel right.Satisfy yourself that the transaction is authentic.
  • If you receive a suspicious order ask for and get copies of identification and the credit card being used. Demand that the purchaser fax in copies of their licenses and credit cards. This will offer you protection from fraudulent purchases. A legitimate customer may object and say it’s too much hassle, but consider the fact that in that case you may only lose the sale.However, if you shipped to a fraudulent buyer you would lose the merchandise and the cost of shipping to him.
  • Specify that the delivery service you use gets a signature when delivering your product to customers. Get copies of these signature for your own records. Your buyer may tell you to have the delivered package left on the porch. Just be aware that you’ll have to replace it if he can’t find it when he gets home.
  • Be up front, firm and consistent with your safety and security measures. Be sure your employees know and understand those measures too.

Putting the points above in use will reduce, if not eliminate fraudulent purchases. Most criminals avoid sites that take safety and security seriously. They will quickly move on to many other places on the web that are easier prey.

Your Los Angeles merchant credit card processing service certainly wants to help you with security. When you lose money because of fraud they do too. Ask for their advice. They will be happy to help.

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