How Retailers Can Avoid Credit Card Fraud
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1. Authorize the card! First and foremost, whatever you do, get a real-time authorization of the customer's card. Currently this is done by swiping when connected to your credit card processor. Do this, and card fraud will become the liability of the credit card processor — not you. (Note: In October, this rule will be updated so that even swiping won't be enough; you'll have to implement new chip card technology, known as EMV.)
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- Companies:
- American Express
- Microsoft Corp.
- Target
- Places:
- Brooklyn
- Europe
- United States
E
Jason Richelson
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Jason Richelson is CEO and Co-founder of Bookkeep, an accounting automation platform for independent bookkeepers, accounting firms and growing businesses. He is also the creator of ShopKeep, a cloud-based POS system used by more than 25,000 retailers and entrepreneurs.
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