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A fifth of Brits prefer using mobile phones to make payments in shops.

8 Aug 2023

One in five UK consumers (20%) prefer using mobile payment services such as Apple Pay over cash (17%) or chip & PIN card payments (10%) for in-store purchases, a new survey has reported.
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New Consumer Duty comes into force

1 Aug 2023

In what the Financial Conduct Authority has described as “a step change in standards of consumer protection” new Consumer Duty regulations have come into force for all products and... Read more…

US audiobook platform Libro.fm launches to indie bookshops in UK

1 Aug 2023

Independent bookshops in the UK can now sell audio books through Libro.fm. Launching in the last couple of weeks in the UK, the digital audio book platform, which already partners with... Read more…

From Cash to Contactless – IRC Leads Study on Payment Trends in Retail

31 Jul 2023

The Independent Retailers Confederation (IRC) will be working with key financial institutions within the UK to gauge the shift in retail payments.
 
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Retailers call for CCTV grants as shoplifting rises 24% year on year

31 Jul 2023

Independent retailers are calling on the government to offer security grants so that stores can be better equipped to deal with shoplifting, which has risen by a quarter in England and Wales in... Read more…

Indie retail finalists named in the 2023 Speciality & Fine Food Fair Awards

31 Jul 2023

The shortlist has been announced for the 2023 Speciality & Fine Food Fair Awards, which celebrate innovative products and inspiring independent retailers in the world of artisan food and... Read more…

ActSmart partner Tyl by NatWest leads the charge with new Tap to Pay

19 Jul 2023

Apple has announced that Tap to Pay on iPhone has now rolled out to the UK, enabling small businesses to accept Apple Pay and contactless card payments using nothing more than their... Read more…

Union launches blueprint to save the future of retail sector

19 Jul 2023

Shopworkers’ union Usdaw has launched a blueprint to secure the future of the retail sector, which includes calling for the levelling of business taxation between online and in-store... Read more…

Your views are needed on the 2023 State of the Workforce Survey

19 Jul 2023

Bira is supporting and urging retailers to participate in the 2023 State of the Workforce Survey, which is being run by People 1st International, part of The Workforce... Read more…

Jewellery sector’s Inspiring Independents 2023 - the top 100 independent jewellery and watch retailers - recognised by the industry

18 Jul 2023

Industry magazine Retail Jeweller’s list of Inspiring Independents 2023 - the top 100 independent jewellery and watch retailers from across the UK and Ireland, as voted... Read more…

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Protecting your business from credit card fraud

Posted on in Business News, Cycles News, Creative News, Outdoor News

Accepting credit cards is becoming increasingly more crucial for any small retailer, but knowing how to protect your business from credit card fraud is just as important.

With financial fraud losses totalling £618 million in 2016, it is crucial for you to know and understand how you can prevent fraudulent charges occurring at your business.

 

"If it sounds too good to be true it probably is"

 

In these difficult trading conditions it's easy to see an unexpected high value order as a good thing but this is exactly when you should pause and carry out a few basic checks to protect yourself from possible card fraud.

The most common scenario for card fraud to occur is mail-order i.e. when a customer places the order over the phone. If you accept orders like this you are exposing yourself to the full cost of any fraud and should be extra vigilant.

Ask yourself why a customer has chosen to place the order with your business. Are you the cheapest, have less popular sizes in stock, nearest supplier to the customer or even discussed the bike(s) with the potential customer previously? If the answer to these are NO, why has the customer chosen your business and trying to pay over the phone by card?

It might be a genuine order, but a genuine customer will not mind being asked for further proof of identity. Asking for things like a home telephone number, copy of driving licence or other documents won't necessary guarantee it is genuine but it will deter many fraudsters who will simply attempt to use the card with another business. When entering the card details into your card machine make sure you ask for and enter the postcode numbers and house number when prompted, when the payment is accepted ensure the terminal displays ‘all data matched' not just ‘CSV matched only'; never dispatch goods if a customer can't / won't give you a house number and postcode that matches the registered address for the card. Again a fraudster might well have address information but they will then ask for the delivery address to differ, this is the largest red flag of all and you should never agree to a different delivery address.

A variation of placing an order by phone is to call and represent themselves as working for either VISA / MasterCard or even your card processing provider. Once they have your trust the two most common requests are for the card information for the last transaction, as there was an issue processing it at VISA etc. and they need to ensure you receive the funds. The second one is to explain you have a fault on the machine and need to run a test purchase and refund for which they will give you different card details over the phone. Neither VISA/MasterCard nor your card provider will ever ask for you to carry out an action like this and both will result in you losing money.

Unfortunately these are just the most common areas of card fraud, for additional information and further ways to protect your business see Global Payments common frauds guide and hints and tips to prevent fraud.

Finally remember any member of staff who can take an order needs to be trained on how to spot fraud as well and if in doubt always contact your card provider for further guidance.

 

Global Payments

 

 

 

The simplest way to protect against distance purchase card fraud is to have a system in place to accept card payments online using software like Global Payments 3D Secure. For any order accepted though 3D secure all the liability is removed from the retailer and placed with the card issuer, giving you 100% peace of mind to dispatch the order.

For more information on our partner Global Payments, click here. You can also request a no obligation callback from the Global Payments team to discuss your card processing requirements.

 

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