My Business Media Hub
Advertisement
  • Business
    Financial PR Agency

    The Role of a Financial PR Agency in Building a Strong Corporate Reputation

    Food

    Quality and Affordable Food Store in Canada with Shop in-store or Online

    Business strategies

    The Average Salary Of A Carpenter In The US In 2023

    Training Program

    7 Tips For A Safe And Successful Strength-Training Program

    The Perks of Streamlining Data Science in the Fintech Industry

    The Perks of Streamlining Data Science in the Fintech Industry

    How can a society management software enhance the residential experience in a housing society?

    How can a society management software enhance the residential experience in a housing society?

    Instagram

    Why People Allow Your Blog on Instagram: 8 Mistakes

    Building a Car Parts Catalog: What You Should Know

    Building a Car Parts Catalog: What You Should Know

    5 Tips to Help You Determine Your Freelance Writing Rates

    5 Tips to Help You Determine Your Freelance Writing Rates

  • Home Improvement
    wallpaper

    50+ BRILLIANT WAYS TO ADD WALLPAPER TO YOUR SPACE

    Bathroom Remodel

    10 Practical Ideas to Cut Your Costs of a Bathroom Remodel

    The most secure storage drawers available

    The most secure storage drawers available

    The Signs That Your House Needs Leveling Contractors

    The Signs That Your House Needs Leveling Contractors

    Signs You Need a Central AC Repair: How to Tell if Your Air Conditioner is Broken

    Signs You Need a Central AC Repair: How to Tell if Your Air Conditioner is Broken

    home remodeling

    7 Home Remodeling Projects to Tackle This Year

    lupus

    Coffee Table Designs – Make Your Room More Glossy, Standard, and Luxurious with Discreet Designs

    In Search Of The Best Quality-Price Robot Vacuum Cleaner

    In Search Of The Best Quality-Price Robot Vacuum Cleaner

    How Does A Robot Vacuum Cleaner Work?

    How Does A Robot Vacuum Cleaner Work?

  • Cryptocurrency
    A Quick Guide to Crypto Trading for Beginners

    A Quick Guide to Crypto Trading for Beginners

    Popular Crypto Slangs Every Crypto Enthusiasts Should Be Aware Of.

    Popular Crypto Slangs Every Crypto Enthusiasts Should Be Aware Of.

    How Much Do Blockchain Developers Make?

    How Much Do Blockchain Developers Make?

    Common mistakes

    New to crypto investment? Check out for the common mistakes to avoid

    Crypto Wallet App

    How Much Does It Cost to Make A Crypto Wallet App on Blockchain?

    Top NFT drops

    Things to Know Before Investing In an NFT

    Bitcoin Halving

    Information You Should Have About Bitcoin Halving

  • Health
    Rekindling the Flame: Navigating Postpartum Intimacy

    Rekindling the Flame: Navigating Postpartum Intimacy

    How to Login into an APAP Account? Steps to Know

    How to Login into an APAP Account? Steps to Know

    6 Ways to Ease Patient’s Dentist Office Fears

    6 Ways to Ease Patient’s Dentist Office Fears

    What To Do If Your CPAP Machine Is Not Working Right

    What To Do If Your CPAP Machine Is Not Working Right

    How to Cope With Eating Disorders

    How to Cope With Eating Disorders

    Carelogic Vs. Meditech – Your Ultimate Guide!

    Carelogic Vs. Meditech – Your Ultimate Guide!

    Top Medical Software: Valant Vs Experity EHR – Features and Pricing Comparison

    Top Medical Software: Valant Vs Experity EHR – Features and Pricing Comparison

    Kareo EHR and Medical Billing Solutions

    Kareo EHR and Medical Billing Solutions

    Artvigil 150

    What is Armodafinil and how does it work? Explanation of Artvigil 150

  • Lifestyle
    Lights

    All the Lights You Will Need for Your Tennis Court

    Influencers

    The lifestyle of Influencers and Bloggers: How They’ve Grown and What to Expect in the Next 12 Months

    Best Film Production House in Dehradun

    Best Film Production House in Dehradun

    lizzo

    Lizzo Net Worth:

    best-marriage-website

    Communication Tips After Finding Soulmate on The Best Marriage Website

    Health

    Injuries from Juicing You Can’t Ignore

    places to see in italy

    Top 10 Places to See in Italy

    List of Mitsubishi Heavy Duty Air Conditioner 2022

    List of Mitsubishi Heavy Duty Air Conditioner 2022

    Bruce Weber Sheds Light on Some Popular Types of Fashion Photography

    Bruce Weber Sheds Light on Some Popular Types of Fashion Photography

  • Tech
    How to Purchase a Used Mac Computer

    How to Purchase a Used Mac Computer

    5 Things You Should Know About Water Heaters

    5 Things You Should Know About Water Heaters

    How to Organize Your Mac Desktop

    How to Organize Your Mac Desktop

    10 Best Practises for Maximising Flutter’s Potential

    10 Best Practises for Maximising Flutter’s Potential

    Why Not To Buy Expensive Smartphones?

    Why Not To Buy Expensive Smartphones?

    HOW DOES PMP CERTIFICATION  HELP TO  IMPROVE THE SKILL SET OF CANDIDATES?

    HOW DOES PMP CERTIFICATION HELP TO IMPROVE THE SKILL SET OF CANDIDATES?

    artificial intelligence

    Problems Of Artificial Intelligence That Impact Your Business

    The Best Finder Alternatives for macOS in 2022

    The Best Finder Alternatives for macOS in 2022

    How to crop images online 3 best tool

    How to crop images online 3 best tool

  • News
    Free iCloud Unlock Service

    Risk-Free iCloud Unlock Service Official Tool For All iOS Users

    Get To Know About The Types of Lupus

    Price of Gold Across the Country

    What are black Friday and cyber Monday?

    What are black Friday and cyber Monday?

    How to Get a Drywall Contractor License?

    How to Get a Drywall Contractor License?

    Generate Leads on Instagram

    3 Ways to Generate Leads on Instagram for Contractors

    Cat6 Plenum

    What is Cat6 Plenum Rated Solid UTP Networking Cable?

    Global Precision Medicine Market Opportunities & Forecast 2022-2029

    Global Precision Medicine Market Opportunities & Forecast 2022-2029

    Smart Waste Collection Technology Market Key Segments, Players and Factors to 2028

    Smart Waste Collection Technology Market Key Segments, Players and Factors to 2028

    Alarm Monitoring Market, 2028

    Alarm Monitoring Market, 2028

  • Write for us
  • Contact us
No Result
View All Result
  • Business
    Financial PR Agency

    The Role of a Financial PR Agency in Building a Strong Corporate Reputation

    Food

    Quality and Affordable Food Store in Canada with Shop in-store or Online

    Business strategies

    The Average Salary Of A Carpenter In The US In 2023

    Training Program

    7 Tips For A Safe And Successful Strength-Training Program

    The Perks of Streamlining Data Science in the Fintech Industry

    The Perks of Streamlining Data Science in the Fintech Industry

    How can a society management software enhance the residential experience in a housing society?

    How can a society management software enhance the residential experience in a housing society?

    Instagram

    Why People Allow Your Blog on Instagram: 8 Mistakes

    Building a Car Parts Catalog: What You Should Know

    Building a Car Parts Catalog: What You Should Know

    5 Tips to Help You Determine Your Freelance Writing Rates

    5 Tips to Help You Determine Your Freelance Writing Rates

  • Home Improvement
    wallpaper

    50+ BRILLIANT WAYS TO ADD WALLPAPER TO YOUR SPACE

    Bathroom Remodel

    10 Practical Ideas to Cut Your Costs of a Bathroom Remodel

    The most secure storage drawers available

    The most secure storage drawers available

    The Signs That Your House Needs Leveling Contractors

    The Signs That Your House Needs Leveling Contractors

    Signs You Need a Central AC Repair: How to Tell if Your Air Conditioner is Broken

    Signs You Need a Central AC Repair: How to Tell if Your Air Conditioner is Broken

    home remodeling

    7 Home Remodeling Projects to Tackle This Year

    lupus

    Coffee Table Designs – Make Your Room More Glossy, Standard, and Luxurious with Discreet Designs

    In Search Of The Best Quality-Price Robot Vacuum Cleaner

    In Search Of The Best Quality-Price Robot Vacuum Cleaner

    How Does A Robot Vacuum Cleaner Work?

    How Does A Robot Vacuum Cleaner Work?

  • Cryptocurrency
    A Quick Guide to Crypto Trading for Beginners

    A Quick Guide to Crypto Trading for Beginners

    Popular Crypto Slangs Every Crypto Enthusiasts Should Be Aware Of.

    Popular Crypto Slangs Every Crypto Enthusiasts Should Be Aware Of.

    How Much Do Blockchain Developers Make?

    How Much Do Blockchain Developers Make?

    Common mistakes

    New to crypto investment? Check out for the common mistakes to avoid

    Crypto Wallet App

    How Much Does It Cost to Make A Crypto Wallet App on Blockchain?

    Top NFT drops

    Things to Know Before Investing In an NFT

    Bitcoin Halving

    Information You Should Have About Bitcoin Halving

  • Health
    Rekindling the Flame: Navigating Postpartum Intimacy

    Rekindling the Flame: Navigating Postpartum Intimacy

    How to Login into an APAP Account? Steps to Know

    How to Login into an APAP Account? Steps to Know

    6 Ways to Ease Patient’s Dentist Office Fears

    6 Ways to Ease Patient’s Dentist Office Fears

    What To Do If Your CPAP Machine Is Not Working Right

    What To Do If Your CPAP Machine Is Not Working Right

    How to Cope With Eating Disorders

    How to Cope With Eating Disorders

    Carelogic Vs. Meditech – Your Ultimate Guide!

    Carelogic Vs. Meditech – Your Ultimate Guide!

    Top Medical Software: Valant Vs Experity EHR – Features and Pricing Comparison

    Top Medical Software: Valant Vs Experity EHR – Features and Pricing Comparison

    Kareo EHR and Medical Billing Solutions

    Kareo EHR and Medical Billing Solutions

    Artvigil 150

    What is Armodafinil and how does it work? Explanation of Artvigil 150

  • Lifestyle
    Lights

    All the Lights You Will Need for Your Tennis Court

    Influencers

    The lifestyle of Influencers and Bloggers: How They’ve Grown and What to Expect in the Next 12 Months

    Best Film Production House in Dehradun

    Best Film Production House in Dehradun

    lizzo

    Lizzo Net Worth:

    best-marriage-website

    Communication Tips After Finding Soulmate on The Best Marriage Website

    Health

    Injuries from Juicing You Can’t Ignore

    places to see in italy

    Top 10 Places to See in Italy

    List of Mitsubishi Heavy Duty Air Conditioner 2022

    List of Mitsubishi Heavy Duty Air Conditioner 2022

    Bruce Weber Sheds Light on Some Popular Types of Fashion Photography

    Bruce Weber Sheds Light on Some Popular Types of Fashion Photography

  • Tech
    How to Purchase a Used Mac Computer

    How to Purchase a Used Mac Computer

    5 Things You Should Know About Water Heaters

    5 Things You Should Know About Water Heaters

    How to Organize Your Mac Desktop

    How to Organize Your Mac Desktop

    10 Best Practises for Maximising Flutter’s Potential

    10 Best Practises for Maximising Flutter’s Potential

    Why Not To Buy Expensive Smartphones?

    Why Not To Buy Expensive Smartphones?

    HOW DOES PMP CERTIFICATION  HELP TO  IMPROVE THE SKILL SET OF CANDIDATES?

    HOW DOES PMP CERTIFICATION HELP TO IMPROVE THE SKILL SET OF CANDIDATES?

    artificial intelligence

    Problems Of Artificial Intelligence That Impact Your Business

    The Best Finder Alternatives for macOS in 2022

    The Best Finder Alternatives for macOS in 2022

    How to crop images online 3 best tool

    How to crop images online 3 best tool

  • News
    Free iCloud Unlock Service

    Risk-Free iCloud Unlock Service Official Tool For All iOS Users

    Get To Know About The Types of Lupus

    Price of Gold Across the Country

    What are black Friday and cyber Monday?

    What are black Friday and cyber Monday?

    How to Get a Drywall Contractor License?

    How to Get a Drywall Contractor License?

    Generate Leads on Instagram

    3 Ways to Generate Leads on Instagram for Contractors

    Cat6 Plenum

    What is Cat6 Plenum Rated Solid UTP Networking Cable?

    Global Precision Medicine Market Opportunities & Forecast 2022-2029

    Global Precision Medicine Market Opportunities & Forecast 2022-2029

    Smart Waste Collection Technology Market Key Segments, Players and Factors to 2028

    Smart Waste Collection Technology Market Key Segments, Players and Factors to 2028

    Alarm Monitoring Market, 2028

    Alarm Monitoring Market, 2028

  • Write for us
  • Contact us
No Result
View All Result
My Business Media Hub
No Result
View All Result
Home Business

How Can Businesses Avoid Credit Card Fraud?

Zanjabeel by Zanjabeel
October 28, 2022
in Business
0
How Can Businesses Avoid Credit Card Fraud?
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

One of the hidden costs of running a business is dealing with fraud. Every dollar of a fraudulent transaction costs firms $3.75 to clean up.

That can add up quickly and hurt your ability to run your business effectively.

Small business owners know that fraud is a risk, but they don’t think it will affect them that much. That is until it actually happens.

They’ll be unprepared to deal with the consequences, and fraud could end up forcing a business to close.

Credit card fraud is hard to fight because criminals always seem to be one step ahead. It doesn’t mean that it’s impossible, though.

You just have to know what to do. Keep reading because you’re going to learn the top credit card fraud prevention strategies to protect your business.

Review Your Risks

Credit card fraud comes in many forms. Someone might show up at your retail location and try to buy something with a stolen credit card.

A hacker could have bought credit card information on the dark web and used that to buy something online.

You need to prepare your business for these possibilities and more. The starting place is to review your current risks.

Review the steps to accept credit cards at your establishment. Do you ask customers for ID when they pay with credit cards?

Are there policies in place for staff members to follow? How do you handle online transactions?

You’ll be able to uncover gaps where fraud becomes possible. This allows you to enact fraud prevention strategies.

It also helps to know how much your customers typically spend. That allows you to recognize transactions that fall outside the norm as possible fraudulent transactions.

For example, if your customers usually spend $20 per transaction, and someone spends $500, you should flag it as possible fraud.

You don’t want to lose the sale, but you also don’t want to pay thousands to recover from credit card fraud, either.

Learn About Your Industry

Some industries have a higher risk for fraud than others. The obvious ones are the gambling and dating industries.

There is an entire list of industries that are considered high-risk. These are businesses that have a high propensity for fraud and chargebacks.

The travel industry is one of those industries. Believe it or not, the furniture industry falls under this category due to the high percentage of chargebacks.

You’ll need to learn about your industry and find out if your business is a high-risk one or not. If it is, you’ll need to find a payment processor like Bankcard Services.

Work With Your Payment Processor

Your payment processor may seem like an enemy because they charge high fees so you can accept credit card payments.

It can work in your favor to see your payment processor as a partner, not a necessary evil.

Payment processors want to prevent fraud because it costs them money, too. They monitor your transactions and will flag suspicious transactions.

If you have a transaction that is legitimate but falls outside of your normal range of transactions, call the payment process and notify them.

That will save headaches for you and your customer. Your customer will experience a smooth transaction while you get paid on time.

Did you know that payment processors have a special code to ask for authorization? That’s known as Code 10.

This allows you to contact your payment processor without the customer knowing and flag the transaction before it gets processed.

The payment processor can deny or approve the transaction based on your suspicions.

Don’t Let Customers Be Bullies

Customers seem to have gone over the edge in recent years. They went from nice and normal to punching people in the face if they don’t get their way.

You and your staff may face threats of bullying every day. That may make everyone scared to speak up if they think something is wrong with a transaction.

It’s best to be firm with customers and have a no-bullying policy, even if it means losing a little business. Customers don’t have the right to intimidate you or your staff.

That will help prevent fraudulent transactions because you or your employees were too scared to deny a customer.

Invest in Online Security

Card-not-present transactions are the ones that carry the highest risk. These are charges where you don’t see the card because it’s done online.

You can implement a couple of ways to reduce fraud when accepting online payments. Asking customers to enter a zip code and CVV (card verification value) number is helpful in avoiding fraud.

Discover the Latest Technology

The financial industry does everything possible to help businesses with fraud protection. That includes investing in new technologies.

We’ve gone from swiping a card to get a card imprint to digital point-of-sale systems. Now we’re moving towards mobile payments.

Customers only need a phone to pay. You’ll want to make sure that you’re up to speed with the latest technology.

Not only will it help you provide a better experience for customers, but you’ll be able to avoid fraud because these new systems have the latest security features.

Credit Card Fraud Prevention and Detection

You don’t need to stop accepting credit cards to avoid credit card fraud. You do need to make sure you know how to detect and prevent fraud.

The tips in this article showed you some steps you can take to accept credit card payments without putting your business at risk. Review how you accept payments and work with your payment processor to reduce fraud.

If you found this article helpful, you’ll learn a lot from the other business articles on the blog. Check them out today!

Tags: Credit Card Fraud
Previous Post

From Cans to Bottles – The Journey of Beer Packaging

Next Post

5 Office Filing Organizer Tips You Can Use Today

Zanjabeel

Zanjabeel

Next Post
5 Office Filing Organizer Tips You Can Use Today

5 Office Filing Organizer Tips You Can Use Today

Stay Connected test

  • Trending
  • Comments
  • Latest
25th Island Of Greece-A worth visiting Island

25th Island Of Greece-A worth visiting Island

July 8, 2022
Flowerbomb Perfume Dossier.co Review:Intoxicating Whirl Of Aroma

Flowerbomb Perfume Dossier.co Review:Intoxicating Whirl Of Aroma

April 8, 2022

Reasons And Ideas To Throw College Dorm Party

April 9, 2022
Free iCloud Unlock Service

Risk-Free iCloud Unlock Service Official Tool For All iOS Users

April 26, 2022
A trustable online floor tile store:

A trustable online floor tile store:

0
About Us – Columbus Cabinet City

About Us – Columbus Cabinet City

0
Significant problems can become a cause of phone repair services

Significant problems can become a cause of phone repair services

0

Top 9 benefits of using area rugs for your home

0
5 Tips to Finding the Right Piano Moving Company

5 Tips to Finding the Right Piano Moving Company

May 16, 2023
Rekindling the Flame: Navigating Postpartum Intimacy

Rekindling the Flame: Navigating Postpartum Intimacy

May 6, 2023
From Zero to Hero How MathJoin Can Help You Become a Math Master!

From Zero to Hero: How MathJoin Can Help You Become a Math Master!

May 6, 2023
Financial PR Agency

The Role of a Financial PR Agency in Building a Strong Corporate Reputation

May 3, 2023

Recent News

5 Tips to Finding the Right Piano Moving Company

5 Tips to Finding the Right Piano Moving Company

May 16, 2023
Rekindling the Flame: Navigating Postpartum Intimacy

Rekindling the Flame: Navigating Postpartum Intimacy

May 6, 2023
From Zero to Hero How MathJoin Can Help You Become a Math Master!

From Zero to Hero: How MathJoin Can Help You Become a Math Master!

May 6, 2023
Financial PR Agency

The Role of a Financial PR Agency in Building a Strong Corporate Reputation

May 3, 2023
My Business Media Hub

Are you a business owner, entrepreneur or freelancer? You'll love this blog about business media hub. My business media hub is an online resource center to help the media industry and entrepreneur , linking businesses and distribute content to business people.

Follow Us

Browse by categories

  • App
  • Business
  • Celebrities
  • Cryptocurrency
  • Economy
  • Education
  • Entertainment
  • family
  • Fashion
  • Food
  • Gaming
  • General
  • Health
  • Home Improvement
  • Latest
  • Lifestyle
  • News
  • Relationships
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent News

5 Tips to Finding the Right Piano Moving Company

5 Tips to Finding the Right Piano Moving Company

May 16, 2023
Rekindling the Flame: Navigating Postpartum Intimacy

Rekindling the Flame: Navigating Postpartum Intimacy

May 6, 2023
No Result
View All Result
  • Business
  • Home Improvement
  • Cryptocurrency
  • Health
  • Tech
  • News
  • Write for us
  • Contact us

Are you a business owner, entrepreneur or freelancer? You'll love this blog about business media hub. My business media hub is an online resource center to help the media industry and entrepreneur , linking businesses and distribute content to business people.