Securing Cards

When a fraudulent transaction involving a credit or debit card can be detected and deflected before it's completed, banks avoid the expense and time-consuming procedure of chargeback processing and retain cardholder confidence. The four steps your community bank can take to stop fraudulent bank...

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Bibliographic Details
Published in:Independent Banker 2012-10, Vol.62 (10), p.68
Main Author: Wagner, Marlene
Format: Article
Language:English
Subjects:
Arbitration
Chargebacks
Community banks
Credit card fraud
Customer services
Debit cards
Disputes
Electronic commerce
Fraud
Fraud prevention
Guidelines
Independent banks
Merchant banks
Trends
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Summary:When a fraudulent transaction involving a credit or debit card can be detected and deflected before it's completed, banks avoid the expense and time-consuming procedure of chargeback processing and retain cardholder confidence. The four steps your community bank can take to stop fraudulent bank-card transactions from happening or mitigate losses in the event one occurs are: 1. Reduce dispute volume. 2. Investigate transactions effectively. 3. Manage chargeback tracking. 4. Take additional strategies and best practices.
ISSN:0019-3674