Accept Credit Cards

Credit Card Security- Credit card security involves a variety of factors. Keep reading to find out more about keeping your customers’ credit cards secure. If you already don’t know credit card security is very important. Credit card security!

Merchants and Credit Card Security

According to the FTC, identity theft is the fastest growing crime in the US, and getting hold of credit card numbers and using them without authorization is a big part of this growth. As a merchant, its key to your business to keep and to help your customers keep their credit cards safe. If their cards and account information are safe, you’ll both have happier customers and you won’t have the headaches of fraudulent charges.

Credit Card Security and Identity Theft

Credit cards are a frequent goal of the identity thief; both the one who want to run up purchases on a card and then disappear and the one who wants to use a credit card to take over someone’s life. A credit card number can be acquired in several ways. If a card is lost, the finder may choose to use it, rather than turn it in. Credit cards may also be stolen from a wallet or from an unattended purse or backpack, for example.

Other approaches to getting credit card information include getting hold of a credit card receipt or bill showing the credit card number. Some thieves will add charges onto an authentic transaction as a means of getting your credit card to work for them. Phishing schemes, intended to lure people into revealing credit card and other personal information are ongoing, through email, phone, and website baiting. Finally, hackers have been known to gain access to credit cards, as have company employees.

What to Tell Your Customers

If your customers take good care of their credit cards, it will be better for you as well. You might consider having information somewhere in a newsletter, email, or online FAQs. Some ideas for advice you might share:

• Sign your card as soon as you receive it.

• When you use a credit card in a store, take your receipt. When you receive a shipment from an online or phone purchase, take your receipt out of the package. Keep your receipts to go over with your monthly statement. If you don’t need them further, shred them before recycling.

• If your card is lost or stolen, notify your credit card company immediately.

• Look for an https page, signaling a secure connection, before entering credit card information.

• Never send credit card numbers by email. If you are asked for a credit card in an email, you can be sure that it is a scam, and not an authentic communication from a merchant or financial institution.

Business Practices to Promote Credit Card Security

PCI Security Standards Council has provided a PCI Data Security Standard (PCI DSS) to inform those who hold customer account information with the appropriate guidelines for keeping this data secure. These are the main points:

• It is crucial to both create and maintain a secure network using a firewall that is properly configured and strong passwords.

• Cardholder data must be protected, and it must be encrypted when it travels across open, public networks.

• To manage vulnerabilities, antivirus and other security systems and applications must be employed.

• Cardholder data must be strictly kept to those who need to know, both by password restriction and physical restriction.

• Network access and security systems must be monitored and tested.

• There must be an information security policy in place.

There are some other more general steps you can take. You might consider a program such as Verified by Visa. Verified by Visa uses an additional password to verify the customer’s identity when making online credit card purchases. This means that even having the customer’s credit card is not enough to complete an online transaction.

Employees have access to customers’ credit cards, so part of credit card security is having trustworthy employees. Going beyond that basic requirement, having some policies in place for dealing with customer’s credit card information can be helpful. What should be done if a customer forgets or doesn’t want a credit card receipt? How should a credit card order be taken over the phone for the best shot at avoiding fulfilling an order placed by someone who is not authorized to use a card? What types of things in a transaction should arouse suspicion and should lead an employee to contact a manager? The person reviewing an online order does not have direct contact with a customer but may still be in a position to contribute to credit card security by following good practices.

Some customers may not wish to have their credit card numbers registered all over the Internet. You can encourage them to use a service like PayPal which allows them to have their credit card number listed in only one place, but used in many places and make sure your website works smoothly with PayPal. Alternatively, you can encourage them to place online orders, but use the phone to give their credit card number and/or to place orders by phone. Alternatively, for those who are afraid to use a credit card online, you can consider providing a way to purchase gift cards locally and allow them to be used in online transactions.

Merchant W.H.

Charge.com

MerchantExpress