Keyed-in payments (card-not-present) transactions are naturally riskier because the customer does not have to be physically present. Hence we advise you to follow the guidelines below to mitigate this risk.
Verify Your Customer
Verify your customer’s identity, phone number, email, billing address, business and location. You can verify on the internet or request for a government-issued ID.
Retain Customer Signature
If you are processing a large amount for a transaction, request your customer to date and sign an invoice, a credit card authorization form, or a contract that authorizes the payment, provides details on the transaction and clearly states your refund policies. Make sure to retain this document with you on file.
Request Card Details
Request your customer to provide the name on the card, the billing address, card number, expiration date, and the CVV2 code on the back of the card.
Shipping and delivery tracking
Incase of shipping your product please make sure to retain the tracking information and a delivery receipt. For large orders, require a signature confirmation at delivery.
Billing and Shipping Zip Codes
If you are shipping an item, check whether the billing and shipping zip codes match. If they don’t match, ask your customer why. Their answer should make practical sense. If it doesn’t, do not accept the payment.