5 million US Credit Cards Leaked Online
 
https://www.malwarebytes.com/blog/news/2024/12/5-million-payment-card-details-stolen-in-painful-reminder-to-monitor-christmas-spending?utm_source=iterable&utm_medium=email&utm_campaign=b2c_pro_oth_20241223_decemberweeklynewsletter_paid_v4_1_173452521105&utm_content=Card_details_stolen
 
I read headlines like this and I see it from a different perspective. Most read these headlines and think, as a consumer, how their cards might be exposed in a data breach. That is not a problem for consumers as most fraudulent charges on a credit card is covered by the bank or issuer.  Any fraudulent charges taken by a merchant may be liable in most situation.  This is why as a merchant it is so important not to let your guard down. The fraudster is looking for cash and always searching for the weak link in the system.
 
Here are few things to be aware of:
 
If you are a retail business and need to manually enter a card there are certain rules you must follow.
 
If your account is a card not present account, always input the billing address, zip card, and the CVV at the time of sale. Look for the response to see if all the info matches. This helps to prevent fraud and helps should there be a dispute due to fraud.
 
Be suspicious of large orders that are shipped to an out-of-town address. Many times, it could be fraud and a stolen credit card involved. Just because there is an approval is no guarantee it is legit.
 
For a retail business that accepts cards in person, if a CHIP Card will not read, ask the customer for another form of payment.
 
There is more info. Now is a good time to revisit this post about protecting your business against disputes.  Click the link:

https://www.atlantapaymentsolutions.com/blog/chargebacks-disputes-rising
 
We are here to help you should you have questions about disputes/chargebacks and anything related to Point Of Sale systems or credit card processing solutions. Give us a call at 404-999-7874!

Ever wonder why gas stations list prices with a "point" typically ending in 9/10 of a cent?  It is a practice that goes back to the early 1900s when adding even a single penny to the price of gas seemed like a significant increase due to lower overall gas costs at the time.  It's a marketing tactic that makes prices appear slightly cheaper to consumers, creating a psychological perception of a better deal compared to a whole number price.
 
How does this relate to credit card processing cost?  There are many companies in this industry that may only tell you what you want to hear, instead of giving you the truth. They might mention a very low rate of 1.25% cost to accept credit cards, however not mention the other fees.  Like, transaction fees, annual fees and termination fees, just to name a few. To really see ALL of the cost you need to look at the monthly processing statement.  To see the statement can take a lot of effort by requesting a login to a portal and the effort of login monthly.  Many time the statements can be hard to understand.  Just like gas stations marketing tactic, this is a way to keep the info difficult hard to view.  As it is stated, “Out of sight, out of mind”.
 
We are here to help your business and earn your business and keep your business! By giving you great rates and service, you win and we win. We are here for the long haul.   If you want transparent info and at your finger tips every month, give us a call at a call at Atlanta Payment Solutions! 404-999-7874

• Only use your account for the product and services it was approved for. For example, you have a retail shop, you are not allowed to run a credit card for a used car you are selling.
• It is not allowed for you to use your personal or business credit card to put funds in your checking account.*
• Don't "loan" your account to another business. For example, the roofing business next door needs to run one transaction thru your account.*
• If you need to refund a purchase and a credit card was used, refund back to the same credit card. Store credit is OK, however must be a written policy disclosed to the cardholder at the time of purchase. Do not give cash or a check.*
• If you move and have a new business address, let us know so we can maintain the correct info with the card brands. Also, we might need to update the header of the receipt.*
• If you are selling your business, let us know BEFORE the closing so we can have a new account set up with the new owner and properly close your account. 
• If you closing your business, let us know. Any billing will continue until the account is closed.
• If you are a retail business and need to manually enter a card there are certain rules you must follow.* Let us know if you are not sure.
• If your account is a card not present account, always input the billing address, zip card, and the CVV at the time of sale. Look for the response to see if all the info matches. This helps to prevent fraud and helps should there be a dispute due to fraud.
• Be suspicious of large orders that are shipped to an out-of-town address. Many times it could be a fraud and a stolen credit card involved. Just because there is an approval is no guarantee it is legit.

 
*Per requirements of the card brands.

We are here to help you should you have questions about Best Practices or anything related to Point Of Sale systems or credit card processing solutions. Give us a call at 404-999-7874

We posted back in January 2021 “Protect Your Business Against Disputes and Charge Backs” Click here to view previous post.

Since then we continue to see chargebacks / disputes increasing for all types of merchants. While it’s impossible to avoid charge chargebacks / disputes entirely, the good news is there are simple steps you can take to reduce the number of chargebacks / disputes your business receives and protect your profits. We outline what to do if you receive a chargeback / disputes and the actions you can take to reduce their occurrence.

​Take advantage of these recommendations to help your business decrease chargebacks / disputes preserve your reputation, and safeguard your profits.

Upgrade your payment devices to ones that accept EMV chip cards
If you haven’t already done so, upgrade your payment devices to ones that accept EMV chip cards, which are inserted into the terminal and provide a much more secure way to process transactions than traditional magnetic stripe cards that are swiped. For online transactions, take advantage of the security programs offered by the major card brands and follow best practices when setting up your website, such as requiring your customers to enter the 3- or 4-digit CVV code on the back of their card and their billing zip code when completing an order. Doing so greatly reduces the chance of fraudulent purchases with stolen credit card information.

Avoid hand-keying credit card numbers
Chip-read and swiped card transactions are much more difficult for customers to dispute than ones where a credit card number is keyed into your payment device by hand. In fact, disputes over key-entered transactions in a card-present environment are considered an immediate loss. In the event you’re not able to process a chip-read or swiped card transaction, you should request another form of payment as opposed to hand-keying card numbers. For merchants with dual processing environments (i.e., card-present and card-not-present), you may want to consider setting up two separate merchant accounts to ensure greater chargeback protection for card-not-present payments. Note just because you receive an authorization is no guarantee the card is not fraudulent. 

Obtain proof that the customer agrees to the purchase
A signed contract, itemized invoice, or payment receipt is another way you can help prove a legitimate transaction should a chargeback occur.

Implement a clear return policy
When you clearly state your return policy, you help protect your business from chargebacks by educating customers about their options before initiating a dispute with their credit card issuer. Post your policy online, around your business, and print it on the back of your receipts. Have customers sign the receipts in-store, which means they acknowledge the policy, or have them check an acknowledgement box when purchasing online. Also we suggest on the bottom of the credit card receipt near the signature, have the statement: ALL SALES FINAL – NO RFUNDS. 

Include detailed product descriptions of your items online
Provide as much information in your product descriptions as possible with the goal of representing your offerings accurately. This enables your customers to feel confident in what they’re purchasing, leading to less returns and potential chargebacks.

Inspect all items before selling them
At checkout or before you prepare an online order for shipment, train your staff to inspect products for defects or damage. It may take a little more time, but you’ll make up for it with less chargebacks to manage. Implementing quality control of this sort is even more critical if your business doesn’t accept returns.

Send shipping confirmations and obtain proof of delivery
Emailing customers a shipping confirmation and tracking details for their online orders is a great way to not only provide good service, but also help you prove that your goods were delivered in the case of a dispute. The proof of delivery (POD) should show the entire address, not just the city and state. It’s also good practice to obtain a signed POD for valuables or large transaction items.

Watch out for red flags
Keeping an eye out for potentially risky transactions can help you reduce chargebacks. For example, if most of your orders are less than $100.00 in total, an order for $500.00 may warrant extra scrutiny before being fulfilled.

Batch out daily
Settling your batches every day helps reduce both higher transaction fees and cardholder disputes.

Use your store name as your payment descriptor
Your business’s payment descriptor is the merchant name that appears on a customer’s credit card statement when they make a purchase from your store. To make it easier for your customers to recognize their charges and reduce the occurrence of chargebacks, make sure your descriptor matches the name of your business. Suggestion, run your personal credit card for a very small amount like a $1.00 and see how the name of your business reads on your statement. 

Issue a refund or credit to the original form of payment
In the instance you need to issue a refund or credit, the exact refund amount should be applied to the original credit card to ensure the transaction can be traced. If the credit is issued to another credit card or form of payment (e.g., cash or check), it may be challenging to document the credit transaction and obtain proof of the refund acknowledgement in the instance of a dispute.

To decrease chargebacks, encourage your customers to contact your business directly to rectify issues rather than initiating a dispute with their card issuer. Partner with a merchant services provider that’s dedicated to giving you next-level support when chargebacks do occur. Discover Atlanta Payment Solutions industry leading service, low-cost payment processing, and other benefits for yourself. 

We are here to help you should you have questions about disputes/chargebacks or anything related to Point Of Sale systems or credit card processing solutions. Give us a call at 404-999-7874.