CREDIT CARD AWARENESS
CREDIT CARD AWARENESS
Credit card acceptance practice requires the following procedures:
1. The card must be either manually entered and imprinted, or swiped (slid through the
terminal card reader).
2. Keying in transactions manually can raise your discount rate and increase the risk of
fraud. Swipe cards through the card reader to maintain the lowest possible rate.
3. The Cardholder must sign the charge slip or printed receipt.
4. The transaction batch in the terminal MUST be closed daily.
Note:
If you do not obtain the Cardholder’s signature on the swiped or manually
imprinted paperwork, you may lose your charge back rights. MasterCard and
Visa require you to save this paperwork in date order for at least three years.
Credit card fraud is at an all time high. Knowing what to look for will assist you in
identifying a counterfeit card. Follow the steps outlined below when you accept a
Cardholder’s credit card.
•
Compare the signature on the Cardholder’s ID with that on the back of the
credit card and on the receipt.
•
Check the appearance of the card to see if it has been fabricated or tampered
with. Uneven numbering, a false logo, or a hologram that doesn’t “move”
can all be signs of a counterfeit card.
•
Compare the number embossed on the card with the number printed on the
sales slip; altered account numbers often show ghosted images.
•
When accepting a Visa card, check the printed bank ID number above the
account number (A four-digit prefix number should match the first four (4)
digits of the embossed account number).
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