Visa, in conjunction with the United States Chamber of Commerce, has
started a new program designed to protect customer information and
reduce the occurrence of fraud by encouraging merchants and payment
companies to work together. While the payments industry has taken
an active role in protecting consumer information, the new campaign
will help to establish open communication between merchants and payment
companies to make certain everything possible is being done to prevent
fraud.
Visa will hold seminars nationwide to help businesses understand the
requirements for handling consumer information and learn to reduce
credit card fraud. The program will include a four step plan that
will assist businesses in developing better security for themselves and
their customers. Visa is suggesting that sales receipts
containing account numbers be protected, that merchants only do
business with suppliers that comply with security requirements, that
business owners educate employees on how to prevent skimming and reduce
fraud in checkout lines, and limiting employee access to the personal
information of credit card holders.
Credit card fraud is a major problem, which leads to the loss of
millions of dollars each year. Visa hope the new campaign will
give an extra measure of security to cardholders and reduce losses
incurred by merchants.
