Fraud Prevention Tips for Merchant Services

We have all heard the horror stories that go along with a lost or stolen credit card, in addition to having your identity stolen and later find out you have charges to your credit cards for items you never purchased.
By: Daren DiSantis
 
May 10, 2010 - PRLog -- IMSofPA.com (Media, PA)   In this day and age fraud protection with respect to credit cards is a very important issue.  There isn't a single simple solution or tool that prevents all fraud. It takes an assortment of many tools to mitigate it. The best protection comes from knowledge and understanding of the latest tools and trends impacting the marketplace. Reading through the topics listed below will help you determine what your business could do to reduce your fraud risk. Awareness is the first step towards fighting fraud.

Below is an example of how fraud can occur.  Certain customer behavior could point to card fraud, but it doesn't necessarily indicate criminal activity. You know your customers, so let your instincts steer you in the right direction.

Watch out for customers who:
1.   Purchase a large amount of merchandise without regard to size, style, color, or price.
2.   Ask no questions on major purchases.
3.   Try to distract or rush you during the sale.
4.   Make purchases and leave the store, but then return to make more purchases.
5.   Make large purchases just after the store's opening, or as the store is closing.
6.   Refuse free deliver for large items.

This list is just a small example of how fraud can occur on your account.  There are others to consider, but these are the most obvious.  

Innovative Merchant Solutions is always available to assist our customers 24 hours a day 365 days a year. They have been built not only on high-tech solutions, but also on award-winning customer service. They have recently been awarded the Arthur Andersen Award for Best Business Practices in Customer Satisfaction and the Ernst and Young Entrepreneur Award.  

If you are an existing merchant or a new business looking to obtain the best rates with exceptional customer service, than look no further than Innovative Merchant Solution of Pennsylvania.  Merchant can lean more about merchant account basics by visiting http://www.imsofpa.com/index.html or contacting them toll free at 800-328-2269.

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Innovative Merchant Solutions of PA, Inc. a sales agent office for Innovative Merchant Solutions, an Intuit Company  is a leading provider of credit card and debit card-based payment processing for over 120,000 merchants, handling over $5 Billion in volume annually.
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Zip:19063
Tags:Merchant Services, Merchant Service, Credit Card, Fraud, Prevention, Tips
Industry:Consumer, Financial, Banking
Location:Media - Pennsylvania - United States
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