Traffic is picking up for businesses now that the holiday season is here. In the coming weeks, it is as important as ever to safeguard against fraud. Just because some shoppers are in a hurry doesn’t mean you should rush through a sale without taking reasonable measures to protect your business from fraud. We want to remind you of some steps you can and should take to keep your transactions safe.

Credit cards require some scrutiny. The first and most important thing you should do is compare every credit card customer’s signature with the signature that appears on the back of the card. If it is not signed, ask for a driver’s license to make the comparison. By making sure the two signatures match, the possibility of your store accepting a stolen credit card is drastically reduced.
Equally important is making sure the account numbers embossed on the card are the same as those being read off the magnetic stripe. Your terminal should automatically prompt for you to enter the last four digits of the account number. Once entered, the terminal will indicate whether or not they are a match. If not, the terminal won’t allow you to go forward with the transaction. Please remember: manually entering a transaction after you have received a “no match” message is not advised.
While these two simple comparisons are probably the most important things you can do, knowing the security measures individual card companies take and how you can spot a fake are invaluable. Examine cards to be sure they meet these criteria:

Visa, MasterCard and Discover each have a hologram on the front of their card. They should appear three-dimensional, changing shape when rotated in the light. Visa’s hologram is a dove, MasterCard’s a globe, and Discover’s a coin.

The embossed account number on the front of the card should be clear and straight. If the card has been re-embossed, the numbers may appear fuzzy. Pay special attention to the last four numbers located in the hologram.

Right below the embossed account numbers is a pre-printed bank identification number. It should match the first four numbers of the account number. All MasterCards begin with the number 5, Visas the number 4, Discover cards the numbers 6011 and American Express cards the numbers 37.The card should also have an expiration date above the cardholder name.

The signature panel on the back of the cards can vary. MasterCard always has an angled repetitive pattern of the brand name of the card. American Express uses a wavy line, Visa horizontal lines and Discover has the account number printed in reverse. A blank signature line on the back of any card is an indication that the card may have been altered.

No one wants to lose a sale or spend time fixing a transaction that has been compromised. Remind your staff members of the tools mentioned here and encourage them to make time for these important checks. Better yet, print a copy of this article and keep it by your credit card terminal as a reference.

Happy Holidays!

Ask Anne from MTG

Question: Traffic is picking up for my business now that the holidays are here and I want to make sure we secure all our sales. Can you tell me how to avoid problems with people trying to use fraudulent or stolen credit cards?

Answer: Unfortunately, the holidays can be prime time for credit card fraud. The frantic nature of the season can cause sales staff to be lax in the interest of saving time. In the coming weeks, it is as important as ever to be vigilant. We want to remind you of some steps you can and should take to keep your transactions safe.

Credit cards require some scrutiny. The first and most important thing you should do is compare every credit card customer’s signature with the signature that appears on the back of the card. If it is not signed, ask for a driver’s license to make the comparison. By making sure the two signatures match, the possibility of your store accepting a stolen credit card is drastically reduced.

Equally important is making sure the account numbers embossed on the card are the same as those being read off the magnetic stripe. Your terminal should automatically prompt for you to enter the last four digits of the account number. Once entered, the terminal will indicate whether or not they are a match. If not, the terminal won’t allow you to go forward with the transaction. Please remember: manually entering a transaction after you have received a “no match” message is not advised.

While these two simple comparisons are probably the most important things you can do, knowing the security measures individual card companies take and how you can spot a fake are invaluable. Examine cards to be sure they meet these criteria:

Visa, MasterCard and Discover each have a hologram on the front of their card. They should appear three-dimensional, changing shape when rotated in the light. Visa’s hologram is a dove, MasterCard’s a globe, and Discover’s a coin.

The embossed account number on the front of the card should be clear and straight. If the card has been re-embossed, the numbers may appear fuzzy. Pay special attention to the last four numbers located in the hologram.

Right below the embossed account numbers is a pre-printed bank identification number. It should match the first four numbers of the account number. All MasterCards begin with the number 5, Visas the number 4, Discover cards the numbers 6011 and American Express cards the numbers 37.The card should also have an expiration date above the cardholder name.

The signature panel on the back of the cards can vary. MasterCard always has an angled repetitive pattern of the brand name of the card. American Express uses a wavy line, Visa horizontal lines and Discover has the account number printed in reverse. A blank signature line on the back of any card is an indication that the card may have been altered.

No one wants to lose a sale or spend time fixing a transaction that has been compromised. Remind your staff members of the tools mentioned here and encourage them to make time for these important checks. Better yet, print a copy of this article and keep it by your credit card terminal as a reference.

Happy Holidays!

MTG Tips

Traffic is picking up for businesses now that the holiday season is here. In the coming weeks, it is as important as ever to safeguard against fraud. We want to remind you of some steps you can and should take to keep your credit card transactions safe. Take time to:

Compare every credit card customer’s signature with the signature that appears on the back of the card. If it is not signed, ask for a driver’s license to make the comparison.

Make sure the account numbers embossed on the card are the same as those being read off the magnetic stripe on the back of the card. Follow your terminal’s prompt by entering the last four digits of the account number. Once entered, the terminal will indicate whether or not they are a match. If not, the terminal won’t allow you to go forward with the transaction. Do not manually enter a transaction after you have received a “no match” message.

Even safer – know how to spot a fake. Examine cards to be sure they meet these criteria:

Visa, MasterCard and Discover each have a hologram on the front of their card. They should appear three-dimensional, changing shape when rotated in the light. Visa’s hologram is a dove, MasterCard’s a globe, and Discover’s a coin.

The embossed account number on the front of the card should be clear and straight. If the card has been re-embossed, the numbers may appear fuzzy. Pay special attention to the last four numbers located in the hologram.

Right below the embossed account numbers is a pre-printed bank identification number. It should match the first four numbers of the account number.

The card should also have an expiration date above the cardholder name.

A blank signature line on the back of any card is an indication that the card may have been altered. The signature panel on the back of the cards can vary. Look for MasterCard’s angled repetitive pattern of its brand name, American Express’s wavy lines, Visa’s horizontal lines and Discover’s reverse printing of the account number.

Remind your staff members of the tools mentioned here and encourage them to make time for these important checks. Better yet, print a copy of this article and keep it by your credit card terminal as a reference.

Happy Holidays!