Increase security and reduce fraud by making sure everyone taking payments for your business knows these ten important points:
- Authorisation doesn’t guarantee payment
It only confirms that the card has sufficient funds and hasn’t been reported lost or stolen at that time. If a transaction is fraudulent, you could be liable for chargebacks. Never enter an authorisation code provided by the cardholder – only the cardholder’s bank can issue an authorisation code via your terminal, gateway or authorisation line. - Only use your account for its intended purpose
It can’t be used as a personal banking machine, to sell personal property or to take payments for another business. Changes to your account setup must be pre-approved by your payments provider. - Card terminals must be stored securely
This ensures they can’t be accessed by fraudsters or removed from the premises. Take regular inventory of your terminals and report any missing devices to your payments provider immediately. - Vigilance is the first line of defence against fraud
Fraudsters may try to distract you during a transaction to alter the amount, use a stolen card, enter a card number manually or issue a refund. Check the receipt for variances like keyed (manually entered) entries or ‘*’ symbols, which could indicate a copied card. - Set up a password on your terminal for refunds
Ensure only key personnel have access. This helps prevent unauthorised refunds by fraudsters. - Always refund to the original card
Refunds must be issued to the same card used for the original sale to avoid fraud and disputes. - If you suspect a fraudulent transaction
You might still be able to void it if you haven’t performed an ‘end of day’ on the terminal. Call your terminal provider and ask them to guide you through the voiding process. - MOTO transactions are riskiest
Mail order and telephone order (MOTO) payments are harder to verify. Use chip and PIN or contactless where possible. If MOTO is essential, consider using Pay By Link. - ‘Sense check’ incoming orders
Look out for unusually large orders, multiple cards, third-party shipping addresses or customers arranging their own couriers. If unsure, ask the customer to visit the store and use chip and PIN. - Ecommerce processing
Work with your gateway to ensure up-to-date fraud prevention measures are in place. This helps prevent fraud attacks and card testing (carding).
Elavon provides secure, reliable payment solutions tailored to your business. Contact Peter Cook, peter.cooke@elevon.com or 087 1676215 or visit www.elavon.ie
U.S. Bank Europe DAC, trading as Elavon Merchant Services, is regulated by the Central Bank of Ireland.
