Retailers Need To Check Signatures

Online shopping is much harder to police than purchases that take place in stores, face-to-face. Retailers know how to control credit card fraud, yet many are failing to exercise the simple security steps required.

In an article on New Zealand’s National Business Review website, Kelly Gregor says retailers need to be more vigilant about checking the signatures on customers’ credit cards before completing a transaction. Retailers, she says, are ultimately responsible if the card has been stolen.

“It is the retailer that misses out (if a purchase has been processed by a stolen credit card) not the bank and not the consumer,” said Peter Croft, managing director of information security provider Clear Swift. He added that banks don’t care whether retailers check signatures because if an item is disputed, they simply won’t pay the retailer.

Retailers can control credit card fraud by sticking to a policy, implementing workable measures against identity theft and enforcing who can access and what information can be viewed by whom.

To read the article, click here:
http://www.nbr.co.nz/article/retailers-need-step-security-119238