How Retailers Can Avoid Credit Card Fraud
3. Train your staff. You may know who and what to be on the lookout for, but does your staff? Train your team to understand the risks and empower them to insist on following the right protocols. For example, if a magnetic stripe isn't working, train your staff to always call the number on the back of the customer's card to authorize the transaction. This way, you can verify the card is active and prevent a chargeback before it happens. A good time-saving trick here can be to only insist on this level of verification above a certain dollar value, say $15.
- Companies:
- American Express
- Microsoft Corp.
- Target
- Places:
- Brooklyn
- Europe
- United States
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.