How to Combat Fraud

By The Credit Card Lady

Do you ever wonder how many cards are swiped per minute? Per hour? Per day? Per Month? Well, let’s keep that going. Do you ever wonder where your information goes? Is it safe? As a business owner, have you ever wondered if your system is keeping your customer’s information safe? Well, no need to wonder any longer, because this month’s lesson teaches businesses how to combat fraud.

Imagine this, mom and daughter go shopping at one of the largest retail chain shops, Forever 21. Shortly thereafter, the news reports that Forever 21 has been breached at a corporate level. The reporter explains that there was unauthorized access to their system, including malware, and all shoppers must beware of any fraudulent charges made to their credit card account. It’s safe to say that this mom, who just spent $250 on her Visa Debit Card, is probably worried. The sad truth is, this really happened. Check out the News Release from Forever 21 here:

Security Breaches can happen. It is not just the big retailers like Forever 21 and Target, but Equifax recently experienced this too. That said, smaller businesses are much more vulnerable if they are not taking credit card security and cardholder data transmission seriously. How does a business owner protect their customers from a security breach from happening? The solution is simple:

  • Being EMV (Europay, Mastercard and Visa) chip ready!
    • Making sure it is working and active
  • Chip and Pin at the point of sale
  • Verifying Firewalls are compliant to current security standards

There are NO guarantees that security breaches will not happen, but it is always better to plan ahead and follow the best practices to protect your business and your customer’s information. My name is Olivia Poota and I’m the Credit Card lady at i3 Verticals Point of Sale. Please contact our office at (734) 259-3680 with additional concerns.

Recent Posts

Occasionally, you may need to make the same change to multiple items. You can use Table View to make changes to multiple records quickly.
Devices are the hardware that are attached to your POS workstations. Devices allow you to do things like print receipts, process a credit card payment, and make change from the cash drawer. If one of your devices stops working, use some of these methods to troubleshoot.
In Counterpoint version 8.5.4 and above, devices such as the Ingenico, receipt printer, and cash drawer use a new NCR service to connect to your Point of Sale. If the service stops, your devices may not load. Stop and Start the device service to reestablish connection between Counterpoint and your devices.
There are a lot of Inventory Reports and Sales Reports in Counterpoint, but only a few combine sales and inventory data into one report, and only the Merchandise Analysis report allows you to pick and choose which data you want to see on the report.

i3 Verticals, LLC is a registered ISO of Wells Fargo Bank, N.A., Concord, CA | i3 Verticals, LLC is a registered ISO of RBS Worldpay | i3 Verticals, LLC is a registered ISO of Deutsche Bank, USA, New York, NY i3 Verticals, LLC is a registered ISO/MSP of Merrick Bank, South Jordan, UT | i3 Verticals, LLC is a registered ISO of Harris NA, Chicago, IL | i3 Verticals, LLC is a registered ISO of Fifth Third Bank, Cincinnati, OH Copyright i3 Verticals, LLC © 2019. All Rights Reserved.