LOS ANGELES, CA – August 28, 2015 – Employers need to recognize the warning signals when they accept credit cards. Always make sure your credit card terminal is password protected. This is an easy step that can be done when setting up the credit card terminal for merchant services.
The first step is to exercise consistent and thorough due diligence when boarding new merchants. Before a merchant receives a credit card processing account, not only should their paperwork be validated, but human contact points should also be tested and verified – such as checking the business directory for a matching listing, calling the customer service phone number to test competency and using any website contact form to test the response.
The second step is to monitor the merchant’s dispute reasons and chargeback trends, since heightened chargeback activity may signal a problem merchant. Even then, merchant fraud detection is a delicate matter. Unfortunately, merchants who aim to scam consumers may pass these tests with flying colors. Fortunately however, this is where monitoring chargeback statistics is most valuable.
Monitor for red flags:
Payment processors to monitor merchants when suspicious activities occur that could signal increased risk is just around the corner. Following are several red flags payment processors should not ignore:
• Abnormal increase in chargeback quantities
• Spiked sales activity inconsistent with previous patterns
• Abnormal ticket values that are higher or lower than previous averages
• Reduced time-frame between chargeback post date and transaction date of claim
• Disconnected customer service line or not answering calls during normal business hours
• Failure by merchant to dispute their chargebacks
• Heightened number of consumer complaints
To receive a free password protected emv, chip card credit card terminal, contact 1-888-895-3129 or visit http://www.credit-card-processing.com for a free no obligation quote.
With us, you receive:
• 1.25% rate credit/check cards and 1.65% credit card
• 25 years industry experience
• Free emv/chip card terminal and/or swiper
• No Yearly fee
• No Statement fee
• No Minimums
• No Contract
Distributed by Press Release Jet
Company Name: Credit-card-processing.com
Contact Person: Jim Johnston
Phone: (888) 895-3129
Country: United States