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CARD ACCEPTANCE PROCEDURES Facilitator: Kristy A Stanley Fraud and Compliance Officer June 16 2011.

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Presentation on theme: "CARD ACCEPTANCE PROCEDURES Facilitator: Kristy A Stanley Fraud and Compliance Officer June 16 2011."— Presentation transcript:

1 CARD ACCEPTANCE PROCEDURES Facilitator: Kristy A Stanley Fraud and Compliance Officer June

2 Legal Disclosure These materials are provided for informational purposes only and should not be relied upon for marketing, legal, regulatory or other advice. You should independently evaluate all content and recommendations in light of your specific business needs, operations and policies as well as any applicable laws and regulations. Caribbean Credit Card Corporation Ltd. is not responsible for your use of these materials, including errors of any kind, or any assumptions or conclusions you might draw from their use. Use of the following information is the sole and exclusive responsibility of the user.

3 CARD ACCEPTANCE PROCEDURES 1. CARD PRESENT ENVIRONMENT 2. CARD-NOT-PRESENT ENVIRONMENT

4 CARD ACCEPTANCE PROCEDURES SIX EASY STEPS 1. CHECK SECURITY FEATURES 2. OBTAIN AUTHORIZATION 3. COMPARE CARD INFORMATION TO POS TERMINAL OR SALES RECEIPT 4. COMPARE SIGNATURE ON CARD TO SIGNATURE ON SALES RECEIPT 5. LOOK OUT FOR SUSPICIOUS BEHAVIOUR 6. IF YOU SUSPECT FRAUD, MAKE A CODE 10 CALL CARD PRESENT ENVIRONMENT

5 Card Acceptance Procedures

6 CHECK THE SECURITY FEATURES Front: Embossed/ printed account number 4 digit bin number Cardholder name/identifier Visa/MCard brand mark and UV element Chip Expiration date Visa/MCard hologram* Cardholder Name Magnetic Stripe Signature panel Visa/MCard Brand Mark Visa/MCard Hologram CVV2 “Flying V”/ “MC” 4 digit Bin number Product name Bank identification area

7 CHECK SECURITY FEATURES BACK: 1. Magnetic/Holographic magnetic stripe 2. CVV2 (Visa)/CVC2 (MCard) 3. Signature Panel Card is not valid if it is not signed “See ID” is not a valid substitute for a signature “Void” appears if the card has been tampered with 4. Card Source Identification If found please return to Caribbean Credit Card Corporation P O Box 993, Basseterre, St Kitts

8 OBTAIN AUTHORIZATION Swipe magnetic strip/ Key enter transaction/ Voice Authorization

9 COMPARE CARD INFORMATION If card is swiped: Match: the name on the card with customer’s ID the number on card with the number on the terminal or sales receipt. the last four digits on the front of the card with the four digits in the signature panel. If cardholder’s name is printed on the receipt ensure that it matches the embossed name on the card.

10 COMPARE SIGNATURES In all cases ensure that the signature on the sales receipt matches the signature on the back of the card. If the card is not signed: Ask the customer to sign the card in your presence and compare to the signature on the ID If the customer refuses to sign the card, ask for another form of payment.

11 LOOK OUT FOR SUSPICIOUS BEHAVIOUR Examples of Suspicious Behaviour Purchase a lot of merchandise without regard to color, size, style, or price Ask no questions on major purchases Refuses free delivery for large items

12 MAKE A CODE 10 CALL IF YOU SUSPECT THAT A CARDHOLDER IS ATTEMPTING TO MAKE A FRAUDULENT TRANSACTION, MAKE A CODE 10 CALL TO YOUR CARD CENTRE.

13 CARD RECOVERY PROCEDURES If you are instructed to pick up the card:  Notify the cardholder and retain the card only if it is safe to do so.  Notify your bank that you recovered a card and ask for further instructions; explain the circumstances surrounding the pickup.  Cut the card Visa – cut horizontally being careful not to damage the card number, the magnetic stripe or the hologram. MCard – cut in half through the magnetic stripe.  Send the card pieces directly to your sponsor bank within 2 – 3 days – Rewards may apply

14 CARD ACCEPTANCE PROCEDURES 1. Request authorization for ALL transactions 2. Ask for the CVV2 or CVC2 number 3. Verify the cardholder’s address with the cardholder’s bank 4. Look out for suspicious orders 5. If you suspect fraud, ask for more information and verify the order CARD-NOT-PRESENT ENVIRONMENT

15 Authorization 1. An invalid or missing expiration date may be an indication that the card is invalid and of whether the customer has the card in hand. 2. The CVV2 and CVC2 numbers can confirm that the card is genuine.(A “match” or “no match” response is usually provided.) This information should not be stored after the transaction is completed.

16 LOOK OUT FOR SUSPICIOUS ORDERS Examples of suspicious orders: Hesitation to provide personal information (may be an indication that the customer is using a false identity.) Larger than normal orders

17 ASK FOR MORE INFORMATION & VERIFY ORDER Ask for the name of the issuing bank or the 6 digit bin number. Request day and night telephone numbers and verify through directory assistance or by calling the customer directly. Separately confirm the order with the customer by sending a note to the customer’s billing address instead of the shipping address given.

18 THE END THANK YOU QUESTIONS & COMMENTS


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