How can you protect your business if its card-not-present or keyed-in transactions?
Get to know your customer – Before processing large card-not-present transactions, make sure you know your customer. Be sure to check their ID and make sure the information on it matches the payment information they give you.
Have delivery confirmation – If shipping your product, make sure to request tracking information and a delivery receipt. If you are sending a large order, you will want to request a signature confirmation at delivery.
Match the billing and shipping zip codes – When shipping your product, you want to check to see if the billing zip code given for the payment matches the shipping address zip code. If the zip codes don’t match, ask your customer why. If their answer doesn’t make sense to you, or sound plausible – don’t accept the payment.
Obtain a signature – This is especially important for large transactions. Make your customer sign an invoice, a contract that states your refund policies and gives you authorization to take the payment or a credit card authorization form. Once signed, keep this document on file.
Request card information – Make sure customers can give you the name on the credit card, the card number, the expiration date, the CVV2 security code and the correct billing address if you are keying in a payment without a card.
A tip from National Transaction Corporation 888-996-2273 www.nationaltransaction.com