Minimise credit card fraud

Credit card fraud is a problem most small businesses fail to think about, until it hits them.

If you sell online, or by mail, your business is potentially at risk of losing money from fraudulent credit card orders. While this is probably something that rarely crosses your mind, it's a threat you shouldn't ignore.

Tips to minimise credit card fraud loss

  • Be cautious of customers who wish to correspond via email only and are not contactable by other means such as phone.
  • Beware of customers who are willing to pay more than the cost advertised. Genuine customers are more likely to try to negotiate on the sale price.
  • Watch out for unusually high orders placed for goods. If it sounds too good to be true, it usually is.
  • Look out for requests for funds to be forwarded to a third party. This scenario may occur if there is an overpayment and a refund is requested; or if surplus funds are paid to cover freight costs and the customer stipulates which freight forwarder to use.
  • Watch out for customers who claim to be not contactable, and/or unable to view the goods being purchased.
  • Avoid any requests to transfer funds via Western Union.
  • Be aware that if you accept transactions when the card is not present in the sale, it is you, the merchant, who is ultimately liable should a dispute be raised against the transaction.

Whilst the above are some scenarios of how scammers can target your business, the list is not exhaustive. Always be vigilant and aware of tactics that are used, as this will go a long way to protect your business.

Business owners need to ensure that obligations under the merchant agreement are understood to prevent any unexpected surprises.

For further information regarding different fraud types & scam scenarios that could affect your business, please visit www.scamwatch.gov.au or www.staysmartonline.gov.au.

You may also be interested in

NAB eCommerce Merchant Account

Combine your gateway provider with a NAB eCommerce Merchant Account, so your transactions are submitted to us for quick authorisation and settlement.

Benefits

  • Overnight settlement to a NAB business transaction account
  • Easy set up – just provide your merchant account details to your gateway provider
  • Use with any NAB accredited third party gateway

NAB Transact

Secure and convenient card payments when your customers aren't present with you – includes online, phone, mail orders and payments. You can also view all your payments in one place.

Benefits

  • Get your money quickly
  • Secure hosting
  • Multiple currencies

Talking Shop

Learn how other business owners and industry experts are using our merchant services to establish and grow their businesses.

Call support 1300 369 852

24 hours a day, 7 days a week.

We're ready to help you

Have us call you
Call 1300 338 767

Mon-Fri 8am - 6pm (AEST/AEDT)

Talk to an expert