Credit Card Fraud and the Effects on Small Businesses

Sometimes it seems the deck is stacked against you when it comes to starting and operating your small business. This is where a great merchant account processing service can make a world of difference in your daily tasks. In fact, a good merchant service provider can help you grow your business quickly and smoothly. It can even offer advice when it comes to the safest payment methods to accept in order to avoid the effects of credit card fraud on small businesses.

Merchant Account Processing

Are you familiar with the phrase “merchant account processing” and what it means for your business? Most individuals are not, especially if they are running their first business. That is okay – we can give you a quick rundown. A merchant service provider offers a variety of different services that are essentially made to help make running your business as easy as possible. This includes things like processing credit card payments and providing the technology you need to accept credit and debit cards in the first place. Finding a good service, then, should be one of your top priorities.

Technology for the Modern Business

Something else to keep in mind when looking for that perfect merchant services provider is your technology needs. Are you looking for something like a business credit card machine that will stay in one place, or are you hoping for something a little more user friendly like a portable credit card reader? Whichever seems like the right choice to you, make sure that you select the merchant service provider that offers exactly what you need.

Credit Card Fraud

When it comes to credit card fraud there are a few things to keep in mind. If a credit card has a chip and fraud occurs, the credit card company is held accountable. If no chip is present on the card and a swipe fraud occurs, the business is held accountable. Small business should always ask for an ID when taking a credit card to make sure the card is legitimate and belongs to the owner. Be sure to match the credit card number up with what appear on your point of sales system. Most POS systems will show the last few digits of a credit card. If it’s a fake card, the numbers will not match up. Finally, touch and hold the card. Most of us know what a credit card feels like. If someone is trying to use a fake credit card, the last thing they want is the business touching their fake.

MerchantAccountSolutions.com offers payment solutions for any type of business, including small business payment options to invoicing and mobile payment solutions. For more information on merchant services and how they can help your business thrive, contact Merchant Account Solutions today! They have a plethora of services that are designed to help your business grow.