The World Payment Services Sales Loss Prevention Department through First Data helps merchants reduce the risk of credit card fraud by carefully monitoring merchants' daily transaction activity.
Major Reasons for Unauthorized Credit Card Transactions
- Reason
#1: Merchants are
not comparing the signature
on the back of the card
with the cardholder's signature.
- Reason
#2: Merchants must
take the time to verify
information that is given
over the Internet or via
the telephone. Because this
is a non-face-to-face transaction,
it is important to make
certain that the person
using the card is the cardholder.
If need be, call the cardholder
to confirm the order.
- Reason
#3: Face-to-face
transactions also require
due diligence on the merchants'
part. Check the credit card
for the hologram, and make
certain it bears no alteration
marks.
- Reason #4: The merchant rushes through the transaction. Consumers who knowingly commit credit card fraud at a store wait for a busy time when it is unlikely that the merchant will scrutinize the card.
