My last trip to Fry’s Electronics resulted in a lesson in credit card processing. When I handed my card to the cashier to complete my purchase, she asked to see a photo ID. She matched the name on my ID to the credit card and then compared the picture to my face. I passed the test, completed the purchase, and went on my way.
However, it is amazing to me how infrequently stores will try to verify your identity when you make a purchase. Credit card fraud and identity theft are growing problems in our world of commerce. Retail establishments and your business can help prevent credit card fraud from happening by implementing a few simple checks:
1. Check Photo ID
Does your customer’s credit card name match their ID? Does the ID photo match the customer? If you explain that you need verify ID to help prevent fraud, most customers will gladly comply. They will view this interaction as a way to protect themselves from fraud.
2. Check Signature
Does the signature on the back of the credit card match what the customer just penned on the receipt? You don’t have to be a forensic handwriting expert to notice signatures that aren’t even close.
Little Effort, Big Benefit
These simple steps won’t stop all fraud from happening but they are a weapon in the arsenal that can easily catch the most obvious offenders. By implementing these easy checks, you’ll save your business the hassle of fraudulent chargebacks and your honest customers will appreciate your efforts to help prevent fraud.