4701 Oleander Drive, Suite A
Myrtle Beach, SC 29577
Your small business is not just your passion, but your livelihood. That doesn’t matter to scammers, whose livelihood .
Credit card fraud is on the rise, and your business could be first in line to bear responsibility. The costs of fraud stack up quickly and your business could take a real hit after a few incidents. Understanding fraud from beginning to end can help you steer your business clear.
Fraud can come from counterfeit cards, cards later reported lost or stolen or online and over the phone purchases where no physical card is needed. It all boils down to someone using the credit of a different person. Once the rightful owner of the card notices something suspicious, they can seek protection by freezing their card and asking for a chargeback.
While a chargeback can be a useful tool for the consumer, this system often means you’re the one out of luck. The bottom line for you is lost money from the sale and the chargeback fees, stock you may never see again and any wasted shipping costs.
Know how fraud happens, and you can avoid becoming a target. Establish a system for you and your employees, so that no one is caught off-guard.
Stay ahead of the curve, stay educated and have a plan in place. Being able to spot fraud can be the difference between business as usual and someone walking away with your hard-earned money.
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