Code 10 Authorization for Risk Management
There are numerous risk management solutions that can help prevent fraud and unnecessary monetary loss for any business. In today's increasingly electronic business world, keeping credit card and customer information confidential is vital. Fraud can happen anywhere; whether you sell goods over the internet or phone, or have face-to-face transactions with your customers. “Code 10” is a simple way to detect suspicious activity just by answering a series of yes/no questions to verify the cardholder’s information. By following a few simple tips and guidelines, you can manage your risks and detect fraudulent activity before it gets out of hand.
To learn more about protecting your business, click here.
Current Merchant News
Fraud Alert
There is a new scam targeting restaurants and catering companies. Please call your Voice Authorization Center and request a Code 10 on any orders resembling this scheme:
You may receive a call (usually over the hearing impaired relay network) from someone requesting a food order for a large party or catering event. The caller claims they cannot come to the location to pick up the order and offers a “pick-up agent” to manage delivery.
The “pick-up agent” will not accept credit cards, and you will be asked to charge the pick up fee to a credit card and wire funds to the “pick-up agent.” The amount to be wired usually ranges between $2000.00 and $4000.00. In many cases, you may be provided several card numbers to utilize for these transactions.
Ultimately, there is no pick-up agent, and you will be out the wired money and will receive chargebacks for fraud for the sale(s) processed.
Merchant Data Security Notification -
In an effort to further reduce fraud and identity theft, the major card brands (VISA, MasterCard, American Express, Discover, Diners Club, and JCB) have been working together to identify and implement measures to better safeguard cardholder information. Security is important at every layer of this industry: from the merchant to the processor to the banks.
All payment processors and merchants are expected to comply with all applicable data storage regulations, including maintaining cardholder account data in a secure environment. These new procedures help ensure your customers that the industry is doing as much as it can to maintain the security of cardholder information.
Click here to view data security notice.