Although the holidays are often marked by wholesome shopping, gift giving and sales, fraud is also known to run rampant during this time. Without the right precautions in place before the season begins, your business and customers could be at risk.
According to Point of Sale, it is estimated that retailers are one and a half times more susceptible to consumer chargeback fraud during the season between Thanksgiving and New Year’s. A chargeback is the fee demanded by a credit card provider from a retailer to replace a loss of money due to a disputed or fraudulent transaction.
Data published by Insurance Journal has found that point of sale systems, not stored information are the most at risk for attack from hackers. As the POS system is the most vulnerable, it’s important to make sure that the security of your system is the most updated it can be. With security features such as password protection, violation reports and PCI compliance Visual Retail Plus is capable of protecting all your information this holiday season.
Fraud can cause customers to choose to shop elsewhere, have an effect on inventory levels and in the worst scenarios, ruin the reputation of a business completely.
Keep the following three tips in mind to avoid fraud this season:
- Be vigilant: If a payment form seems off, or is being rejected from your point of sale system, there is most likely a reason why. Pay attention to recent data dumps and security breaches that have been made public or may be available via industry channels.
- Give customers more than one point of contact: When customers have more than one way to contact a retail store, they are more likely to do so, which can alleviate an issue rather than keep the business in the dark about it. Some people enjoy using online forums, while others prefer an in-person phone call or visit to the actual store. By having a range of customer service available, customers are more likely to give feedback, which can enhance their experience, as well as that of other shoppers.
- Monitor shipping and process quality: Shipping orders for customers should always be correct, especially during the holiday season. Returns can be costly and take time away from delivering other orders.
- Plan ahead: Be ready for an influx of customers, especially in terms of customer service and security. Having a store full of employees ready to assist with patron needs, as well as execute sale pricing and other related demands is essential. Take time now to plan sales, featured items and decor before the actual holiday hits.
The point of sale system from Visual Retail Plus has a range of features perfect for the holiday season. Learn more on our website.