How Retailers Can Avoid Credit Card Fraud
6. Embrace new payment technology. The good news is that with the introduction of Apple Pay and the approaching switch to EMV "chip" credit cards, we're about to enter a more secure world of payments. EMV has been shown to reduce "card present" fraud noticeably in Europe, where it's been the norm for more than a decade. The United States is responsible for about 50 percent of the world's credit card fraud, despite generating only about a quarter of the transactions. Embracing these new technologies, and following the tips outlined above, will ensure that you avoid becoming a target for credit card fraud.
- 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.
