We’re hearing about credit card fraud increasing everywhere, especially restaurants, auto repair, and auto dealers, and wholesale distributors.
What can your business do to protect from getting burned by credit card fraud?
Make sure your POS system or terminal is programmed correctly for prompts and that clerks know how to process correctly.
SWIPED transactions- clerk must manually re-enter the last 4 digits of the credit card number
MOTO- mail order/telephone order- address verification system (also called AVS). AVS compares the numeric portion of the street address and the zip code.
ORBITAL and other proprietary virtual terminal systems- full address match
What happens if you do not perform these minimums? If there is fraud, your business is out the money.