Five Ways to Protect Customer Credit Card Information

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Make certain all employees tasked with the responsibility of accepting credit and debit cards from customers have a working understanding of the looks and functionality of the payment processing equipment they’re using. Scammers often try to tamper with a business’ payment processing equipment in an effort to steal credit card information. Altered equipment usually consists of a small piece of hardware physically attached to the terminal itself. An attentive employee who knows what to look for should be able to easily identify an extra attachment to the device or oddly functioning software.

According to a March 13 report from the Commerce Department, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.

A recent report from Javelin Strategy & Research found that credit card fraud has increased an alarming 87 percent since 2010 and accounted for a cumulative total loss of approximately $6 billion. Despite mounting evidence of this growing epidemic, loss as a result of credit card fraud has remained the proverbial elephant in the room for many businesses.

Organizations need to increase their awareness of this growing threat and the rather simple steps they can take to prepare themselves. Here are five tips, identified by Rob Bertke, senior vice president of research & development, Sage Payment Solutions, for businesses of all sizes to keep in mind as they navigate through the economic climate in 2013 and beyond.

According to a March 13 report from the Commerce Department, retail sales increased 1.1 percent in February, to $421.4 billion, marking the biggest surge in the retail space since last September. Elevated sales numbers mean additional credit card transactions and, as a result, an increased risk for fraud.

A recent report from Javelin Strategy & Research found that credit card fraud has increased an alarming 87 percent since 2010 and accounted for a cumulative total loss of approximately $6 billion. Despite mounting evidence of this growing epidemic, loss as a result of credit card fraud has remained the proverbial elephant in the room for many businesses.

Organizations need to increase their awareness of this growing threat and the rather simple steps they can take to prepare themselves. Here are five tips, identified by Rob Bertke, senior vice president of research & development, Sage Payment Solutions, for businesses of all sizes to keep in mind as they navigate through the economic climate in 2013 and beyond.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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