What you need to know about credit card risk management
Rest easy with enhanced security from First ACH
Accepting credit card, debit card and ACH/eCheck payments is great for business; it builds customer loyalty through the freedom of choice, empowers growing businesses to speed up their payment cycles, and increases the swiftness and overall number of sales.
But accepting electronic payments can still be risky business.
The good news is there are easy, affordable ways to protect your business from credit card risk and losses. With a few precautionary measures, it’s totally possible to mitigate risks and keep your electronic processing secure.
Managing Card Risk
Credit card risk analytics show that ACH/eCheck transactions sometimes incur “charge backs” or disputes from customers. Customers may claim that the charge was false, unauthorized or that their account information was misappropriated.
When it comes to these kinds of disputes, you have little choice but to absorb the loss. The key to reducing charge backs lies in preventing them before they occur.
- Obtain supporting documentation for each and every ACH transaction.
First ACH will help you identify the type of documentation you’ll need, ensure that you receive the appropriate documentation, and support you in resolving any disputes.
- Choose the most heightened security available in the industry and prevent credit card risk
First ACH transmits all ACH transactions through secure servers located in a secure, controlled-access data center. Our security measures exceed the requirements of NACHA, the governing body that regulates the ACH network.
Like any electronic payment, ACH involves a modicum of security risk. But by taking a few proactive risk management measures, you’ll be able to enjoy all the benefits of credit card, debit card, and ACH payment processing without having to sing the charge-back blues.