POS Fraud Prevention

When accepting credit and debit cards, it’s important to take steps to protect your business from fraud and fraudulent chargebacks. Our advanced point-of-sale (POS) payment solutions can help protect you from both internal and external breaches.

State-of-the-Art POS Equipment

In today’s environment, you need the most advanced fraud-prevention solutions available; our POS equipment delivers this protection, including:

  • Account Verification System
  • CVV2/ CVC2
  • Duplicate card checking
  • Last four-digit entry
  • Password protection of key functions

Using these resources, your staff can verify a cardholder’s identity at the point of sale by entering in unique cardholder data such as the address, verification code or last four digits.

Note: Removing any POS terminal fraud protection features puts you at risk. If you do, you will not be able to detect cards that are fraudulent or protect yourself against financial losses.

Online Reporting

When you have quick and easy online access to transaction data, you can more easily identify trends that might suggest improper operating procedures or fraud. Sign up for online reporting today.

Protect your POS Equipment

Criminals are increasingly targeting POS systems as a way of stealing payment card data. One way criminals access data is by planting a “bug” that can read PINs and cardholder information. Others have successfully used miniature cameras or video recording devices to obtain the information they are seeking. To help avoid being compromised, we recommend the following:

  • Protect your equipment: Inspect your devices at the beginning and end of each day for signs of tampering, confirm serial numbers and ensure there are no missing screws or no new holes have been made to the devices.
  • Safeguard the equipment in the POS area: To help prevent criminals swapping your equipment for their own, use secure stands, tethers and security cables; you should install your own security cameras, plus check the space for hidden cameras or unauthorized recording devices.
  • Teach your staff how to recognize and prevent equipment tampering: Help employees recognize the signs of equipment tampering; validate all equipment service and repair technicians.

 

Interac Merchant Rewards Program

Card fraud affects everyone, including merchants, so it’s important to look for ways to protect your business. Interac® has put together some simple tips and routine site inspections to help merchants protect their business from fraud. Interac has also put the Interac Merchant Rewards Program in place to raise awareness and educate merchants.

The program encourages merchants to report any suspected tampering to Chase. If it is determined that the PIN pad you reported was tampered with, you will receive a reward* from Interac.

What merchants need to know:

  • Inspect your device daily for signs of tampering
  • Report suspected tampering to Chase at 1-800-265-5158
  • Each report will be investigated on a case-by-case basis
  • Interac will contact merchants quarterly if their case qualifies for a gift card

For more information about the Interac Merchant Rewards program, visit:

For tips on how to prevent fraud go to our fraud prevention page:

*Merchants should check eligibility and entitlement to receive the reward with their employer or corporate owner, if applicable.

 

Stay on Top of Chargebacks

To manage your chargebacks you can also subscribe to the Online Chargeback Management System which will help you keep track of your chargebacks. This easy to use system allows you to accept or reject chargebacks, upload supporting documents and track their overall status.

Have questions? Contact our experienced chargeback specialists and customer service representatives. They are here to answer questions about fraud and help you respond to chargebacks.