| Identity theft is one of the hottest topics around. But | | | | should always match the signature on the back of the |
| who are the real victims here? Of course consumers | | | | card with the customer's signature on the charge slip. |
| are affected the most. While consumers are usually | | | | This can be done while the customer is signing, to |
| not liable for fraudulent charges, it can take years to | | | | prevent the appearance of distrust. Now if the |
| come back from identity theft and it's no small task. | | | | signatures don't match, it is perfectly acceptable to ask |
| Consumer victims may get hit with higher interest rates | | | | for a picture ID. What if there's no signature? |
| or even be denied credit. Credit card companies would | | | | Technically, the credit card is not valid unless it is |
| have you believe they are the biggest victims. To a | | | | signed. It says so right on the back of the card. Most |
| certain extent, that's true. If you're looking at pure | | | | credit card companies suggest that you require a |
| numbers, they are losing the most money. But credit | | | | picture ID rather than denying the transaction. If a |
| card companies are recouping their losses through | | | | customer doesn't want to show his ID, then you have |
| higher interest rates and fees. And they also pass the | | | | a decision to make. Are you willing to risk a |
| buck to retailers who accept fraudulent credit cards. | | | | chargeback? If it's a large transaction, it's probably not |
| Credit card chargebacks can completely wipe out | | | | a good idea. You may decide to let smaller |
| your profits. What can you do to protect your business | | | | transactions slide in the interest of customer |
| and your profits? | | | | satisfaction. The last thing a cashier should do before |
| The first thing your cashiers should look at is the front | | | | handing the card back is to make sure that the card |
| of the card. Most credit cards have holographic | | | | number on the receipt matches the number on the |
| images on the front. Cashiers should also check to | | | | card. It's not too difficult to reprogram a magnetic strip |
| make sure the embossed numbers haven't been | | | | with a stolen credit card number. |
| altered. Fraudsters will sometimes use a clothes iron to | | | | Most of your credit card transactions will go smoothly. |
| remove some of the numbers and then emboss new | | | | If a customer hasn't signed the credit card, make it less |
| numbers on the card. Then they'll deface the magnetic | | | | awkward by suggesting she sign the card and also put |
| strip so it won't swipe. That forces the cashier to | | | | "Check For ID" on the signature strip. Explain that if she |
| manually enter the numbers on the card. If the card | | | | loses the card, someone could sign her name and then |
| won't swipe for any reason, make sure your cashier | | | | the signatures would match. And explain that you are |
| gets an impression of the card and that the impression | | | | trying to protect her. Most customers will appreciate |
| is legible. This will serve as proof that the card was | | | | this. |
| physically present in case there is a chargeback. If | | | | Protecting your business from chargebacks is very |
| your register does not automatically call for verification, | | | | simple. Checking the front and back of the card and |
| make sure the cashier does. | | | | verifying signature only takes a few seconds. Make it |
| The next thing a cashier should do is check the back | | | | an expectation for your employees and follow up with |
| of the card. The signature strip should have multiple | | | | them to make sure they are doing their part. Involve |
| colors and/or the name of the credit card company. | | | | your customers by providing tips to help them prevent |
| Fraudsters have been known to remove a signature | | | | fraud. Then you can enjoy your profits without the |
| strip or cover it with Wite Out® and sign the | | | | fear of chargebacks. |
| cardholder's name. Speaking of signatures, cashiers | | | | |