Tips To Prevent Card-Present Transactions Fraud

Card-Present

Card-present transaction is not a new thing as people have been doing this for years. However, with the advancement of technology, everything has got an advanced shape and card present transactions are not an exception. Considering the present situation where maintain a physical distance has become very important due to COVID-19, people are avoiding physical transactions. Consequently, the number of card present transactions has been remarkably increased.

However, it does not matter whether it is card-present transactions or card not present transactions, we cannot ignore the fraudulent activities inextricably associated to it. Moreover, there are many small businessmen who have just started their business or who have just made their business online. For them, it is very important to understand the card present transactions. Otherwise, they will face problems while accepting card payments. We at International Payment Solutions understand this concern. Therefore, we have highlighted some signs that will help you to understand whether the card-present transaction is fraudulent or not. So, have a look at the following points:
The Credit Card Does Not Have A Signature

If your business accepts online credit card payment, you are familiar with the fact that the cardholder has to sign the back of their credit card before swiping it on the credit card machine. So, if you as a merchant do not see the sign of the cardholder in case of a card-present transaction. You can ask the consumer for the ID card in order to verify the identity. You have to check whether the name on the ID card and the name on the credit card are the same or not. Moreover, every credit card network has its own set of rules. If there is no sign of the cardholder at the backside of the credit card, the merchant has to follow these rules while accepting bill payments.

When the card brand is Visa and there is no sign of the cardholder, the merchant can ask for an ID card. If the cardholder does not provide any ID card. The merchant will have the option to accept or decline the credit card transaction.

If we talk about MasterCard, the merchant may ask for the ID card if there is no signature at the backside of the cardholder’s credit card. However, in such a case, the ID is not compulsorily required. But, if there is any sort of requirement, the customer has to provide information. For example, if you are into the shipping or delivery business, you have to ask the shipping address from the customer and in such a case, the cardholder will have to show his or her id.

At International Payment Solutions, we promote chip-enabled credit card transaction or EMV payment. Yes, EMV payment is an advanced form of credit card transaction and here, it is designed to mitigate the fraudulent activities. In the case of an EMV chip-enabled credit card transaction. The customer has to carry his or her physical credit card and the customer has to provide a PIN to complete the transaction. So, there is no need for signature at the back of credit card and merchants can accept credit card payment without any hesitation. If any fraudulent activity happens in the case of a chip-enabled credit card transaction, the card-issuing bank will be responsible for that.

Credit Card Does Not Work And Merchant Will Get An Error Message

Sometimes credit card transaction gets declined and the merchants ask the cardholder to complete the transaction with a different card. Well, this can be a scenario of card-present fraud. A card transaction usually gets declined if the card does not have enough credit. So, the fraudsters might have multiple stolen cards and the person will try to test all of them to check which one has balance. In such a case, you as a merchant will have to be very careful. You should always check the name that is on the card with the name of the cardholder’s ID.

Sometimes, you might get error messages while accepting card present transactions. This can happen in two cases. If the card is expired, you can get such messages. If the card has been reported as stolen, the merchant will get an error message.

Cardholder Might Ask To Key-In In Case Of Card-Present Transaction

Well, a key-in is something where the cardholder does not need to put the PIN number. It might happen when a customer is trying to use a credit card that is actually stolen. Moreover, only the merchant can suggest a key-in in case of card present transaction. So, if any customer repetitively asks for key-in, you should not accept that credit card payment.

Not An IPS Merchant?                

In order to accept credit card payment, you have to pair your business with any merchant processor solutions. Therefore, we will recommend you to go for International Payment Solutions that is one of the best merchant processors. With IPS’s advanced payment solutions, you can easily prevent card-present transaction fraud. So, what are you waiting for? Get in touch with IPS today.

Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:



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    Disclosing Misconceptions About Accepting Chip Credit Cards

    Chip Credit Cards

    Chip Credit Cards are the way forward. We are living in the 21st century where everything is growing faster and business strategies are not an exception. If you are into business, you have probably understood the importance of taking the business online. Moreover, if we consider the present situation where maintaining a social distance has become very important. People are giving more preference to contactless transactions such as EMV payment.

    Well, online credit card payment is not a new thing. But, we used to have magstripe credit cards initially. As a matter of fact, magstripe credit cards are not well-secured. Therefore, top credit card brands such as Visa, MasterCard and Europay have developed EMV technology. That will provide enhanced security while making credit and debit card transactions. The security standard used in EMV payments is completely different from that of the magstripe cards. EMV payment has the capability to protect all the entities that are involved in a credit card transaction. Such as merchants, cardholders, merchant processor solutions and credit card issuers.

    EMV standard refers to the chip credit cards and the payment terminals and hardware that have the capability to read it. Well, people have been using EMV enabled credit cards for several years. Still, there are many misconceptions floating around. If you are into online business and accepting EMV payments. You have probably experienced problems that occurred due to these misconceptions. We at International Payment Solutions understand this concern. And therefore, we have come up with this article where we are going to disclose the misconceptions about accepting chip credit cards. So, have a look at the following points:

    Merchants Cannot Accept Tips Through EMV Payments

    If you are into the restaurant business and this misconception keeps titillating your mind, you are actually in the wrong way. This is completely wrong. Rather, EMV payment or paying with chip credit cards makes the entire bill payments more flexible and convenient. If your business has wireless payment terminals, you just need to carry the credit card machine to the customer’s table and enter the billing amount. Your job is done here and now, you need to pass the terminal to the customer.

    Customers will swipe the cards and along with the bill, they will have the option to pay the predetermined tipping amount. Moreover, they can even pay whatever amount they want with chip credit cards. Finally, customers have to enter the PIN to complete the credit card transactions. If you don’t have wireless payment terminals, you can even ask the customers to pay the tip at the checkout counter. EMV payment is less time-consuming. So, if you pair your business with the EMV payment system, it will be easier for you to gain positive feedbacks from your customers.

    EMV Payments Are Very Expensive To Accept

    This is another misconception that is inextricably related to accepting chip credit cards. Many merchants believe that the credit card processing fees are on the higher side when it comes to chip credit cards. But, it is completely wrong. It does not matter whether you are using a magstripe credit card or a chip credit card, there will be no change in the card processing fee. The credit card processing fee depends upon the types of credit cards.

    Here, the word, ‘types’ refer to travel card, high-value rewards credit card and basic credit card. Moreover, if you go with the EMV payment system, you might make more profits in your business. This is because EMV payment offers 100% protection against fraudulent transactions. As long as you as a merchant is accepting EMV enabled credit cards, the credit card issuing bank will be the one that is responsible for any fraudulent charge.

    EMV Chips Are Easy To Hack

    This is another misconception related to EMV enabled credit card payment. Many merchants think that EMV chips are easy to hack. But, the truth is that EMV chips are introduced to make the card present transactions more secure. The EMV chips consist of an advanced layer of security that magstripe cards do not have. Moreover, if we talk about EMV transactions, there is actually two-factor authentication. The cardholders must have something that nobody can know and this is the PIN. Along with it, EMV chip cards generally create a unique transaction ID that is impossible to replicate. According to a survey, the rate of credit card fraud has been significantly reduced since the introduction of EMV chip-enabled credit card transactions.

    Small Business Does Not Need To Upgrade For Accepting EMV Transaction

    Well, this is not true. The EMV payment system is an advanced mode of transaction. Therefore, if you are accepting credit cards and want to accept EMV chip enable credit cards, you have to upgrade your business infrastructure. You need EMV supported payment terminals and hardware.

    Not An IPS Merchant?

    So, we have covered all the common misconceptions regarding EMV payment. Now, if you want to pair your business with EMV enabled payment system, you need to become a merchant of International Payment Solutions. International Payment Solutions is one of the best payment processors and with its advanced payment solutions, you can elevate your business to the next level.


    Start accepting credit card online and/or in your store today! , Fill out the below form for a free consultation, we will get back to you shortly:



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