In Tandem
Stop credit card fraud by pairing solid policies with new technology.
When retailer Mark Berkowitz, 49, asked a phone customer for thename and number on his credit card, he knew he was being scammed."The guy said his name was Patricia," recalls the ownerof DerbyAppliances Inc. in Edison, New Jersey, which sells appliancesand electronics. "If I hadn't questioned it, I would havebeen liable for the cost."
U.S. retailers get ripped off to the tune of about $1.5 billionper year due to credit card fraud, says Dennis Behrman, a researchanalyst with Financial Insights, a Framingham, Massachusetts,research firm. Protecting yourself without alienating customers, hesays, requires a combination of new technology and good businesspractices, including:
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
This Co-Founder Was Kicked Out of Retailers for Pitching a 'Taboo' Beauty Product. Now, Her Multi-Million-Dollar Company Sells It for More Than $20 an Ounce.
-
Have You Ever Obsessed Over 'What If'? According to Scientists, You Don't Actually Know What Would Have Fixed Everything.
-
After He Was Fired From the UFC, This Former Fighter Turned His Passion Into a Thriving Business
-
Most People Don't Know These 2 Things Are Resume Red Flags. A Career Expert Reveals How to Work Around Them.
-
How One Woman Turned Pandemic-Induced Boredom and a Makeshift Garage Art Studio Into a Thriving Franchise
-
Use These 4 Self-Care Rituals for More Resilience and Less Depletion
-
Shark Tank's Barbara Corcoran Wants to Invest in 'Someone Who Probably Needs a Good Shrink Instead of a Business'
