| Fraud protection systems are a must have for | | | | Along with training that gives you the skills you |
| anyone with a small business merchant account. | | | | need to recognize warning signs, you'll be given |
| You'll find there are a number of different | | | | access to a special online tool that allows you to |
| technologies available. Each one works in a | | | | view transaction information as well as a system |
| different way and has its own pros and cons. | | | | that uses databases and processing rules. The |
| When dealing with small business credit card | | | | purpose is to determine the intent and the validity |
| processing however, it isn't necessarily choosing | | | | of the transaction. |
| one method over the other. Instead, become | | | | Authentication And Verification |
| educated about all of them and use them to your | | | | Regardless of whether you're face-to-face with a |
| advantage. | | | | client or completing the transaction online, you |
| Built-In Card Fraud Protection | | | | need to be certain of the purchaser's identity and |
| The card itself has a number of security features | | | | that he or she owns the card. Online, this is done |
| built right into it. One of the first things you'll notice | | | | through instant verification. In person, you'll have |
| are ghost images on the card, a miniature | | | | to compare the card with the customer's |
| holographic image, and repetitive writing across | | | | government issued ID. Address verification works |
| the back on the signature panel. The purpose of | | | | the same way. Online, you should never ship |
| these details is to make it easy for you to | | | | products to a different address than the one |
| recognize fake cards or ones that have been | | | | registered with the credit card unless there is a |
| tampered with in some way, and ultimately | | | | verifiable and logical reason for it. |
| prevent fraud and chargebacks on your merchant | | | | Verified Cards And SSL |
| account. | | | | Visa and MasterCard have both incorporated the |
| You will notice three or four digits by the | | | | added safety of debit cards to their credit cards, |
| signature panel on the back of the card. These | | | | which is good news for your small business |
| are part of a verification system called CVC2 by | | | | merchant account. To put the transaction through, |
| MasterCard and CW2 by Visa. To use them, you'll | | | | your customers will have to enter a special code |
| be asked to supply these numbers to the small | | | | that is known only to them in order to verify that |
| business credit card processing provider, who will | | | | they are indeed the card owner. For online small |
| then compare the numbers you gave to the | | | | business credit card processing services, SSL, or |
| numbers on the customer's file. | | | | Secure Socket Layer, adds an extra layer of |
| Risk Management Transaction Security | | | | security to the connection, making it twice as |
| A large portion of preventing fraud and | | | | hard for hackers and others to gain access to the |
| chargebacks on your small business merchant | | | | information. |
| account lies with you and your ability to identify | | | | Small business credit card processing is safe online |
| risky transactions. In fact, if you accept Visa or | | | | and offline, but there's always a chance that |
| MasterCard for small business credit card | | | | something could happen. The solution is to focus |
| processing, you are held by their PCI DSS, or | | | | on prevention. Follow accepted procedures for |
| Payment Card Industry Data Security Standards, | | | | handling the transaction and make use of the |
| which state you must follow procedure when | | | | fraud security systems in place, and you'll find |
| storing and caring for customer data. It also | | | | that fraudulent use and chargebacks will rarely |
| includes risk assessment. | | | | occur on you small business merchant account. |