There are a lot of perks when it comes to living in the digital age, for instance, cashless payments. But is your business protected against potential scams?
While the electronic payment system is efficient and convenient both for businesses and customers, it can be targeted by fraudsters looking to make money.
It’s important to be alert to payment fraud and to take steps to protect your business against it.
Here are seven simple tips from NAB you can follow to protect your business:
- Always keep payment terminals behind the counter. Don’t allow customers to edit or manually enter transactions
- Never accept payments on behalf of third parties, or for services you did not provide
- Don’t agree to forward payments to other businesses
- Don’t allow people to leave debit and credit card details with you for processing after they’ve left the premises
- Never refund money to a card other than the one originally presented
- Educate your staff about scams by discussing scam alerts and instances of fraud
- Trust your instinct – if you have concerns about a transaction, contact your bank for guidance.