In December 2012, big box conglomerate Target was hit with a credit card breach of epic proportions affecting more than 40 million consumers personal credit information with consumer fraud. But its not only Target that is feeling the pain with its estimated cost to be a potential $1.1 billion. It is now estimated that financial institutions throughout the United States have tallied over $200 million in related costs which doesn’t include costs related to any fraudulent activity but is basically in card replacement for affected consumers.
Though this particular instance of fraud is an extreme case and not often seen, consumer fraud is estimated to cost the average business about 5 percent of its revenue. How much is 5 percent worth to you?
Consumer Fraud and What to Expect With Instant Accept
At Instant Accept, though we can’t prevent fraud from always happening to your business, we can implement technologies within your payment gateway, that provide real time risk assessment with any type of payment method. Other tools intended to protect your bottom line include chargeback alerts, allowing you to stop delivery or service in time before bigger losses are accrued. Fraud features within the Instant Accept POS software also include the ability to block transitions that seem suspicious.
Though our focus here at Instant Accept is to seamlessly integrate your payment gateway and your Quickbooks® software, making transactions and record-keeping more fully automated, we feel a duty in helping to assist you, the business-owner, in keeping your business as fraud-proof as possible.
With our representatives eager to help you get started with a new POS software and Quickbooks® integrated POS, Instant Accept can get you started right away toward a fully seamless and fraud-resistant payment gateway. Find out more at (855) 220-2840.
Let Instant Accept Help You Avoid Fraud Now
Protect your business and your customers from fraud with Instant Accept’s payment gateway security options.