How to limit fraud and protect your business while supporting sales and your team. Also, happy 2024!

Welcome to a new year! It’s the beginning of our 25th Anniversary as a company.Fraud is a constant topic of concern for our merchants. Just because Christmas has passed doesn’t mean there isn’t still potential for chargebacks related to those sales. Coming out of a heavy holiday sales season, let’s look at how you can protect your business without losing too many sales going forward. How can you document your processes and support your team in a way that ensures the best chance of dealing with fraud effectively?Here's our Limiting Fraud Help Center ArticleCommon types of fraudStolen cards/card numbersReturns of altered productsFriendly Fraud - it isn’t reallyUnderstanding the landscape and the risk - it’s not all bad, almost all transactions are legitimateHow your ecommerce setup can help or contribute to fraudulent transactionsJust because an order makes it through Stripe, PayPal, or any provider doesn’t mean it is guaranteed to be a legitimate transactionWhat to look for in orders that should make you suspiciousWhat to do if suspect an order is fraudulentGoogle the addressCall the phone numberOrders for pick up in-store can be fraud tooProcess for verifying orders/identityDocument and display your proceduresSupport your staff if you want them to support youCredit card processor/gateway fraud measures and notifications vs Workstand’s own effortsMerchants are ultimately responsible and left holding the bagAsk for help. There is nothing we or any provider can do to prevent 100% of the fraud or guarantee an order is legitimate but we will review orders with you, and share insight based on our experience.Tech Tip: Determine your procedures for dealing with fraud and document it. Train your team on those procedures and support them in dealing with customers. Remember, they may be dealing with brazen criminals and that isn’t easy. If they don’t feel like the owner and management have their back, there isn’t much incentive to uphold the procedures.What’s coming up next? What’s new for 2024? Our marketing packages have been enhanced to deliver more value, new Google local ads management packageBe sure to email your questions to [email protected]. We read all emails sent, and we look forward to hearing from you.If you're a Workstand client with questions about your subscription, email [email protected] or call 303-527-0676 x 1. If you are not currently a Workstand client with questions about how our programs work, email [email protected] Us on LinkedInMark Still, Senior Business DevelopmentDavid Martinez, Key Accounts AdvisorWe also publish Around the Workstand on our YouTube channel if you'd like to watch while you listen. Here is our Around the Workstand playlist.If you have any questions about the topics discussed in this episode of Around the Workstand or if you have ideas for new topics we can cover, schedule a time to meet with Mark Still here or email [email protected].