Basic Tip: Fraudulent use of a credit card is overwhelmingly the #1 chargeback retailers are facing today. Some warning signs of possible fraudulent use of a credit card are: Selection of merchandise without paying attention to price, size or color or items and not trying them on if apparel and/or purchase of either large quantities or large dollar amount gift cards especially when it is not during a holiday.
Advanced Tip: Not fully EMV (Chip and Pin) compliant? One of the things you can do is to verify the last 4 digits of the physical card compared to what is shown on your register or receipt. If the numbers do not match – then either cancel or void the transaction and request another form of payment.
Basic Tip: Return Fraud is one of the most popular crimes to occur from late Dec through January due to the increase in returns from holiday gifts. Limit your exposure to Return Fraud by deploying a strong return policy with elements such as: date timeframe limits (30/60/90 Days), Proof of purchase/gift receipt required, No receipt returns go back to a Store Value/Credit card, Identification required for returns and/or tracking of returns.
Advanced Tip: Return Fraud potential red flag behavior consists of: Newer/front table(display) items being returned, all different sizes, items being returned that are not in your brand specific shopping bag, Story of "Why" they are returning doesn't match when the merchandise appeared on the sales floor.
Mark your calendar to attend the next meeting of FRF's LP Council. We have a packed agenda with important items to discuss.
When: Thursday, March 19th; 1:00-4:00 pm
Where: Publix Corporate Offices
3300 Publix Corporate Parkway
Lakeland, Florida 33811
Agenda items to include:
Looking forward to seeing you on March 19th!