Accepting credit cards is more than just a courtesy that your small business extends to its valued customers. In today’s marketplace, it has become practically a requirement as shoppers expect to be able to pay with plastic wherever they make a purchase — in a brick-and-mortar storefront, at an outdoor or non-traditional venue, by phone or online. By accepting credit cards, your small business becomes more competitive and can potentially realize a boost to your revenue stream (and your bottom line) by attracting new customers.
Unfortunately, fraud is a fact of life for merchants and cardholders alike. According to the 2016 report Global Consumer Card Fraud – Where Card Fraud Is Coming From, nearly 30 percent of consumers worldwide have been victims of card fraud in the last five years. And of the 20 countries included in the study, the U.S. is in the top 3.
The TSYS white paper “Tips for Preventing Credit Card Fraud and Avoiding Chargebacks” will help you prevent fraud while accommodating your customers.
This information was originally published by TSYS, NFIB’s preferred payment processing provider since 2001.