POS Terminal tips
POS Terminal tips: Simple ways to reduce credit card and check crimes at the point of sale
If you think credit card authorizations or check guarantees at the POS terminal ensure fraud-free purchases, think again, because you can get stuck with the losses. You’re particularly vulnerable as summer ushers in schedule changes, vacations and more relaxed attitudes-and rip-off artists step up efforts to circumvent security measures. There are some simple things you can do to keep credit card and check crime at the POS terminal to a minimum.
First of all, if you’re a retail merchant and you don’t use a POS terminal, keep a manual imprinter on hand for credit card transactions. It’s evidence that will protect you from most charge-backs. If the imprint isn’t clear, hand-write all info on the sales draft.
Secondly, ensure that the signature on the card matches the cardholder’s embossed name as well as the signature on your sales slip. If you use a point POS terminal, also check that the account number on the credit card matches the number that prints from the POS terminal. When in doubt, ask for identification. If you take credit card orders over the phone, in the mail or on the Internet, you might also consider the following:
Ask for the cardholder’s name and telephone numbers at home and work. (Indicate that you will call before delivery-crooks hate that.)
Require a signature when orders are delivered; ship only to the cardholder’s billing address.
Fax the completed purchase order to the customer, if possible, and have it signed and returned with a copy of the person’s photo ID and credit card (both sides).
As for a credit card authorization, it doesn’t prevent a sale if the card hasn’t been reported stolen. Similarly, check guarantee services don’t always make good on bad checks unless a series of conditions are met. Requirements vary by company.