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Q1 2016 OrangeCRM Enhancements

Aexxis LLC is pleased to announce the following enhancements now available in OrangeCRM:

  • You can now create an unlimited number of Custom Fields on customer records, using the Custom Field Template in the Customer Tab of an Offer or via API. For API support of custom fields, please see the CUSTFLD_ADD and CUSTFLD_UPDATE actions in the OrangeCRM API Specification PDF v3.73.
  • The Generic Delimited fulfillment layout has been upgraded to the Visual Editor layout, which allows an unlimited number of fields.
  • API and Fulfillment customer email messages now support a 3rd party carbon copy email address.
  • The API action CUST_COPY now accepts a new date of last process using the ‘q_cust_lastproc=’ field.
  • OrangeCRM now supports the CheckOut.com v2 (JSON) gateway using the Merchant Bank API “CheckOutV2.”
  • The Acquisition Center – Lead Scrub tab – Lead Load Options now includes Customer Custom Field #6.
  • The restaurant.com fulfillment (RDC) now pulls the Policy Number from the fourth response field “restaurant code.”
  • Customer API Billing Plan and Billing Plan ID fields have been added to the SQL table.
  • Call Center and Call Center GUID have been added to the CUST_QUERY API action.
  • Optimal Payments transaction processing now accepts ACH and CAD payment types.
  • OrangeCRM now supports the custom fulfillment Paramount.
  • Revenue Shares may now be edited on a transaction using the TRANSACTION REVSHARE CHANGE event.
  • The OrangeCRM API actions TRAN_QUERY and CUST_TRAN_QUERY now return the field q_tran_cycle.

If you have any questions, please contact our technical support team at (770) 227-0036 Ext 1.

Strategies and Tactics for Retaining Continuity Customers – Part 3: Program Analysis

In Part 1 and Part 2 we discussed many specific ways to employ retention-driving tactics and eliminate retention killers. In this final portion of the series, we will cover how to determine which strategies are best suited for your unique continuity program, how to evaluate their impact after implementation and how to improve their effectiveness.

A critical factor in reaching and maintaining your customer retention goals is monitoring and analyzing results on an ongoing basis. Retention drivers and killers can be measured in lifetime value (LTV) increases and losses. Among the comprehensive set of reports provided by OrangeCRM’s analytics module, OrangeBI (Business Intelligence), you will find several reports that are specifically focused on providing insight into emerging trends within your club memberships.

Listed below are a few of the top continuity reports, along with an explanation of how each of them can be used to obtain key metrics that will reveal the best ways to spend your retention marketing dollars and will help you assess how to optimize your results.

Customer Lifespan by Program Report

This report will help you quickly identify trends in cancelations based on customer lifespan, i.e. the total number of days you are able to retain a customer before they cancel their membership. Knowing the point at which customers are canceling can be helpful in the application of strategically timed tactics designed to prevent cancelations just before the customer reaches that particular point in their lifespan.

Customer Lifespan Report

Use the last 3 columns in the report to determine the types of cancelations most received for the lifespans with the highest cancelation counts. Canceled by CSR indicates the customer requested the cancelation, whereas Canceled Non Payment refers to automatic system cancelation when a transaction is hard declined by the bank and no further billing attempts will be made. Suspended customers most often result from transactions that were soft declined and are in the process of being resubmitted to the bank, per the user-defined retry schedule.

Now that you are aware of the most common cancelation type, you can investigate further to discover the specific reasons for those cancelations. If your most common cancelation type is Canceled by CSR, use the CSR Event Activity report to view the cancelation reason dispositions chosen by CSRs within a given time frame. If your most common cancelation type is Canceled Non Payment or Suspended Customers, use the Declined Transactions report to see the decline reasons received from the bank for transactions in Declined, Error or Retried status.

Once you have isolated the customer lifespans with the highest number of cancelations, along with the most common reasons for cancelation, appropriate actions can be taken to address those particular problem areas and reduce the number of customers who drop out of the program at specific points in their lifespan.

Customer Cancelation by Date Report

The Customer Cancelation by Date report will help you quickly identify trends in cancelations based on customer cancelation dates (instead of customer lifespan).

Customer Cancelation Report

This report will also assist you in discerning what kind of retention drivers to implement by exposing the types of cancelations most received for the cancelation dates with the highest number of lost customers – which, in turn, will tell you which supplementary reports can be used to find the reasons behind those particular cancelations (as explained above for the Customer Lifespan report).

Being aware of when and why cancelation spikes occur enables you to make special efforts targeted at reducing the number of cancelations at those specific times of the month and/or year.

Return on Investment by Program Report

Once you have used the data to make a well informed decision on the appropriate retention strategies to implement, remember that it’s important to confirm that what you think is a retention driver truly is one by looking at its impact on the lifetime value (LTV) of your customers.

The Return on Investment report will reveal whether or not your retention-driving tactics and dollars are having a positive impact – based on the profit (income minus costs and refunds) of each payment cycle successfully paid by the customer.

Return on Investment Report

The two graphs at the top of the report allow you to quickly see which payment cycles have the highest and lowest profit margins (income vs. costs), as well as which payment cycles have the highest and lowest income (gross sales). The table below that provides additional data for each pay cycle, including: retention count, attrition percentage, a breakout of attrition counts by cancellation type, costs, refunds, and net income.

If the data reveals less than desirable results, you can use the Customer Retention report (discussed below) to pinpoint the exact billing cycles with the highest number of cancelations and identify what kind of adjustments are needed to make your retention campaign more effective.

Note: There is a difference between a payment cycle and a billing cycle. Payment cycles are based on transactions that are successfully paid by the customer. Billing cycles refer to the subsequent cycle after a successfully paid transaction, for which the customer may or may not ever successfully pay for prior to cancelation. To put it simply – payment cycles are based on received income, while billing cycles are based on anticipated income.

Customer Retention by Program Report

This report can be used to find areas where your retention strategies are not producing the desired results, and to uncover any new problem areas that need attention. It will show you which billing cycles have the highest attrition rates – based on the billing cycle the customer was in at the time of cancelation.

Customer Retention Report

The two graphs at the top of the report allow you to quickly see which billing cycles have the largest drop in customer counts and which billing cycles have the highest percentage of lost customers. The table below that provides additional data for each billing cycle, including: retention count, attrition percentage, a breakout of attrition counts by cancellation type, costs, refunds, and net sales (sales less refunds and chargebacks).

Knowing which billing cycles have the highest number of cancelations – as well as the resulting financial impact – enables you to focus your efforts in the appropriate areas and fine-tune your retention techniques on an ongoing basis, as you work toward reaching your customer lifetime value goals.

Now that we have reached the conclusion of this 3-part series, let’s summarize the main take-away. The tricks to retaining continuity customers are:

  • clear communication
  • understanding customer needs
  • letting customers retain a level of control
  • continually monitoring your program’s performance and
  • making changes as needed to optimize your results.

For more details on the reports mentioned in this article, and many other reports that are also centered around continuity metrics and are available in OrangeBI, please visit our online help guide at help.orangecrm.com > OrangeCRM Help Guide > Reports.

Strategies and Tactics for Retaining Continuity Customers – Part 2: Retention Killers

Last week we discussed numerous practical ways to increase the number of retention-driving tactics in your continuity business – step number one in reaching your customer lifetime value goals – as recommended by president of direct marketing consulting company Altman Dedicated Direct, Shari Altman. This week we will cover step two: reduce or eliminate actions that are “retention killers”.

Retention Killer #1: Delayed Delivery of Product

 The biggest retention killer is slow or delayed delivery of the product or service ordered. Timing is critical, especially on the initial order. When customers don’t receive their order when expected, they may change their mind about wanting the product or even forget that they placed an order in the first place. It also gives them the impression that you don’t appreciate their business or value them as a customer. This leads to unnecessary customer service inquiries and cancellations, which can have a significantly negative impact on retention rates and turn profitability into a loss.

To minimize shipment delays in your continuity business, diligence in keeping on top of your future inventory needs is crucial. We recommend running OrangeCRM’s Billing Projections by Billing Plan report at least once a month to obtain a forecast of upcoming estimated customer billing for each bill plan. This will assist you in planning ahead, so you can ensure that inventory purchase orders are placed far enough in advance to maintain enough product in stock at all times.

Retention Killer #2: Poor Pricing Structure

The second biggest retention killer is a pricing structure that creates sticker shock on the first follow-up shipment. An example is offering an item for $1 when the customer signs up for continuity, then billing $50 for each future shipment. This doesn’t mean you can’t give a discount to acquire continuity customers – just be careful that the difference in price from the initial offer to follow-up shipments isn’t too dramatic. Otherwise, you will end up with cancellation requests from customers who simply can’t afford the higher price point or who feel a sense of unpleasant surprise, disappointment, even disgust over the price increase.

Use OrangeCRM’s customer billing tools to dynamically manage continuity pricing and make the necessary price adjustments until you’ve found the sweet spot where you get maximum retention for minimum cost.

Retention Killer #3: Lack of Flexibility

Even with the all of the best retention strategies in place, every continuity business will have customers who want to cancel out of the program. Companies with the highest retention rates listen to the reasons customers want to cancel and provide appropriate offers to address those reasons and give the customer a way to stay.

The key is flexibility. If shipments are coming too quickly, offer to reduce the frequency. If the price is too expensive, offer a discounted rate or a less expensive program. If shipments contain multiple items, consider offering variable combinations at different price points. If the customer can buy the parts they truly want and can afford, they are much more likely to stay. A strong cancel-save program that addresses these type of issues can be implemented with OrangeCRM’s Customer Salvage tools, which allow you to define rules and restrictions on what CSRs are allowed to offer in each scenario.

If giving discounts or changing programs for customers who want to cancel makes you nervous, remember that it’s always cheaper to retain continuity customers than to resell and reactivate them in the future. Determine what you can afford to give to retain a customer and then do it without hesitation. You will save your reactivation cost if you can retain these customers now. Also bear in mind that sometimes potential cancels can be saved by simply explaining how a product or program works and how to get the best results.

Retention Killer #4: Lack of Customer Appreciation

A sure-fire way to kill retention is to not appreciate someone’s business. Don’t forget to thank continuity customers for their business early and often. Continuity customers are golden – they are not average buyers. As long as you remember that and treat them with the respect and attention they deserve, they will reward you by sticking around and growing your profits. Suggestions of how to show continuity customers that you truly value them can be found in part one of this series, in the paragraph labeled “Give your customers strategically timed surprise gifts or bonuses”.

For instructions on how to use the OrangeCRM tools mentioned in this article, please visit our online help guide at help.orangecrm.com. Tune in next week for the final part in this series – Program Analysis.

Strategies and Tactics for Retaining Continuity Customers – Part 1: Retention Drivers

When executed properly, the continuity business can be quite lucrative. But it can also be risky and complex when profits depend on a marketer’s ability to acquire a customer once and ship paid products to him or her multiple times. Most marketers lose money acquiring continuity customers or break even, at best. To be profitable, you must retain customers beyond the initial order.

As brought out in an article posted on targetmarketingmag.com by Shari Altman – president of direct marketing consulting company Altman Dedicated Direct – there are three things you must do in order to improve customer retention:

  1. Add or increase the number of retention-driving tactics, referred to as “retention drivers”
  2. Reduce or eliminate actions that are “retention killers”
  3. Confirm that what you think is a retention driver truly is one by looking at its impact on the lifetime value (LTV) of your customers

In this three part series we will discuss several practical, specific suggestions of how the three steps listed above can be implemented in your business to help you reach your customer lifetime value goals. This week in part one, we will cover some of the biggest retention drivers and how you can apply them.

Retention Drivers

Make sure new continuity customers understand what to expect from the very beginning. You can do this by including a welcome letter in the first shipment detailing how the program works. Keeping in mind that continuity customers tend to be more leery than one time purchasers, be sure to provide the complete details and explain them as clearly as possible. This will go a long way towards putting your customers at ease and making sure they are on the same page.

Give customers control over as much as possible. One of the best tips for retaining continuity customers is to really listen to what the customer is saying. Flexibility is key – when you are rigid with a continuity customer you will have more cancels and fewer program members. You don’t want cancellation or return to be their only options. The more you can be flexible and allow customers to delay shipment dates, alter the frequency of shipments, adjust the items they receive each month and choose how they pay, the more likely they are to find a combination that works for them. This way your customers get what they want, when they want it.

Consider providing customers access to their accounts on line as opposed to having to call in to make changes to their account. Not only does this save your company money in customer service calls, it also adds to that feeling of control for the customer. Use OrangeCRM’s fulfillment tools to generate web usernames and passwords and include them in a welcome email that is automatically sent to new customers.

The ability to customize shipments in the future can also impact your ability to make the initial continuity sale. When customers know that they will have the option to change, cancel or customize their shipments at any time, many of their doubts about joining the program will fade away.

Notify customers before their next shipment. This not only puts them in the driver’s seat about the timing of that shipment and what it includes, it ultimately offers the potential for another selling opportunity if you offer add-on items in your shipment notifications. Take advantage of the low cost of e-mail to send these notices. OrangeCRM allows you to create personalized customer email messages that can automatically be sent within a specific number of days before the next scheduled bill date.

Continuously remind your customers of the value they receive with each shipment. It’s important to reinforce the customer’s ongoing decision to keep buying from you and also to keep up the excitement level they felt when they made the decision to join your program. Spell out the savings off regular pricing they receive as a continuity customer on invoices and statements. If your program offers points or rewards, show them what they’ve earned every time they receive a shipment. Emphasize the value of your continuity program with promotional literature, success stories, never-before-seen products, etc. Make sure the consumer is well educated about how they can get the most value or benefits from your product.

Give your customers strategically timed surprise gifts or bonuses. Everyone loves receiving a gift and can’t help but feel appreciated, which in turn makes your customers feel good about your company. This is especially important in the first few months or product shipments to solidify your relationship with continuity customers.

To determine the optimum time to start sending these gifts, use OrangeCRM’s Stick Rate and Customer Retention reports to analyze attrition by billing cycle and determine where your drop-off in retention begins. Then, focus gifts and bonuses prior to the point where your retention starts to drop.

But don’t forget about your long-standing customers. This can also be a valuable tactic with customers who continue receiving continuity shipments time after time. Surprise them by giving something free in one of their shipments or an out-of-the-blue discount just for being a loyal customer.

For step-by-step instructions on how to use the OrangeCRM tools mentioned in this article, please visit our online help guide at help.orangecrm.com. Be sure to check back next week for part two of this three part series – Retention Killers.

How Top Companies Retain Good Employees and Increase Performance

Every business owner knows that honest, hard-working employees are hard to come by. So when you find one, it’s important to maintain a healthy work relationship by showing them that you appreciate their value and view them as an asset.

Although that may seem like an obvious strategy for retaining good workers, a recent article on Bloomberg.com states that “only 36 percent of professionals surveyed by compensation website PayScale believe they are being paid fairly, according to data released in the fall of 2015. A second PayScale report, released in February 2016, shows why that perception poses a problem for managers.”

“When it comes to retaining good employees, pay practices are extremely important,” said Tim Low, senior vice president of marketing at PayScale. Companies surveyed for the website’s recent compensation report cited pay as the No. 1 reason employees chose to leave their jobs, even ahead of “personal issues”, which came in at second place. PayScale surveyed 7,600 executives, business managers, and human resource practitioners in U.S. companies for its report.

Top performing companies use OrangeCRM’s flexible tools to dynamically manage incentive programs, accurately track performance metrics and view comparison analytics on personnel. The OrangeEvent module defines specific actions that comprise an employee reward initiative, traces each of those actions back to the agent and/or team who performed them and establishes various decision pathways by providing multiple performance reports with a side by side Event comparison option and custom views divided by Performance Groups.

Listed below are some of the practices and additional strategies used to prevent the loss of valuable employees and improve overall performance. Thirty percent of the companies in the survey that produced this data were what PayScale called “top performers,” defined as market leaders that exceeded 2015 revenue expectations.

  • Embrace transparent communication about pay. Across six categories related to pay transparency, top-performing companies were clearer about pay than were average companies. A previous PayScale report, released in October, found that transparency around pay is an effective way to drive more employee engagement. A survey of 71,000 employees found that 81 percent of employees would feel satisfied with getting paid less than market value for work if their manager took the time to explain the company’s reasoning behind the salary.
  • Train managers how to engage with employees about compensation. Only 35 percent of companies surveyed said they train managers on how to engage with employees about compensation. Even fewer companies (17 percent) report being “very confident” in their managers’ abilities to lead a discussion about pay. Nevertheless, it’s important for a company to have the right internal structures to support pay transparency. As stated by Tim Low, senior vice president of marketing at PayScale, “Companies need to make a cultural shift in the way they approach compensation,” because paying out bonuses and giving raises are less effective in retaining workers than explaining a salary and laying out a plausible pathway for an employee to increase salary while at the company.
  • Give bonuses. The top-performing companies did more than just talk about pay, said the report. They also rewarded employees based on their contribution to the bottom line. Eighty-one percent of top performers said they give out bonuses, whereas only 74 percent of average companies did. “It’s an important issue for managers to consider,” said Low, “Because there is some emerging thought that says rewarding employee performance can have a higher impact on overall shareholder value.”
  • Increase budget for bonuses in 2016. Top performers are also more likely to increase their budget for bonuses in 2016, and give team bonuses, than are average companies.
  • Provide a rewards statement for compensation. Nearly half of all top performers reported that they embrace transparent communication around pay and give employees a total rewards statement for compensation, while only 39 percent of companies deemed “average” by PayScale said the same.

For more details and step by step instructions, please visit our online help guide at help.orangecrm.com > OrangeCRM Help Guide > Events.

Q4 2015 OrangeCRM Enhancements

Aexxis LLC is pleased to announce the following enhancements now available in OrangeCRM:

  • OrangeCRM now supports Moneris Canada and Moneris US real-time transaction processing.
  • A SQL update has been issued to remove customer conflict records from SQL.
  • OrangeCRM now supports real-time transaction processing with PayPal Payments Pro.
  • OrangeCRM now considers non-Visa and non-Mastercard Maestro card numbers as Other Credit Card (OT) card type.
  • “Set Next Bill Date” has been removed from the list of available billing adjustment options on a master event.
  • Emails sent from Transaction API notifications will now format the %PKGAMT& field using two decimals.
  • “RecPlayback” has been added to the list of available security roles. If assigned to a user, it will allow access to the Recording Playback feature on the Customer Action menu.
  • The Event trigger RECORDING PLAYBACK has been added to master events, which enables the tracking and reporting of recording playback interactions.
  • OrangeSOAP Offers and Offer Upsells now support State and Country filters.
  • OrangeCRM now supports processing with the gateway QuickPay.
  • OrangeCRM now supports Restaurant.com as a custom direct fulfillment.
  • When processing USD transactions with iPay Gateway, the Currency Indicator field is now “0”. iPay Gateway merchant processing no longer uses the MRC field to check response codes, only the ARC field is used.
  • OrangeBI™ (Business Intelligence) v1.00 released. This new module provides an updated interface for managing, running and personalizing OrangeCRM reports. Additionally it allows for running 3rd party reports. Access OrangeBI from the Home -> OrangeBI menu option.
  • OrangeCRM now supports the ConCardis processing gateway. Note that the Global Security Parameter -> Hash Algorithm in the ConCardis processing gateway should be set to SHA-1.

If you have any questions, please contact our technical support team at (770) 227-0036 Ext 1.

Important Change for Merchants Accepting MasterCard – Don’t Get Slapped with Fines up to $25,000 Per Month!

MasterCard has announced that they will add a new 2 series BIN (Bank Identification Number) range effective October 2016. The new BIN range (222100-272099) will be processed with and in the same manner as the existing BIN range 510000-559999. Merchants must be able to accept and support the new 2-series BIN range in card-present and card-not-present payment acceptance channels by January 1, 2017.

According to a recent article posted by payment processing provider Vantiv, MasterCard will begin conducting field tests in June 2017, and any merchants they find that cannot properly support and accept cards starting with a 2 will be fined up to $25,000 – per month – until they are compliant. Ouch! Avoid these hefty fines by working with your third-party processor, shopping cart, terminal provider, etc. to make sure they are ready to support the new cards.

Having Trouble Locating the Report You Need?

At first glance, it may appear a little challenging to find a specific report in OrangeCRM’s new reporting module OrangeBI (Business Intelligence). But once you become a little more familiar with it, you will be pleased to find that locating the report you’re looking for is actually much quicker and more convenient than ever before! Read on to discover how you can benefit from some of the new time-saving report features that are now available.

Browse by Report Type

Want to see all of the available report options based on the type of report you need? Simply browse by report type. The report list on the home page can be narrowed down to a certain type of report by selecting one of the main categories from the Main Category drop down menu, located beside the search box at the top of the page.

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After selecting a main category, the report list will automatically refresh and will only display reports in the chosen category. The report list can then be narrowed down even further by selecting one or more sub-categories from the “Refine By” options displayed to the left of the report list.

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Search for a Specific Report

The quickest way to find a single specific report would be to use the search box located at the top of the page. You can search for a word or group of words in the report title or the report description.

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To narrow down the search results, use the main category and sub-category filters as explained in the previous subheading.

Add Reports to Your Favorites List

The My Favorites feature allows you to save or “bookmark”  frequently used reports for quick and easy retrieval, without having to perform a search to find them. Your favorites list is unique to you. Each user has their own personal My Favorites list, which is conveniently displayed in the right pane of the home page, beside the main report list.

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For instructions on how to add a report to My Favorites, please refer to the OrangeCRM Help Guide at help.orangecrm.com > Reports > How to Access & Generate Reports.

Why Can’t a User Access the Reporting Module, OrangeBI?

Although OrangeCRM usernames and passwords are automatically copied to OrangeBI (Business Intelligence), not all users will instantly have access to reporting. The most common reason for denied access to reports is due to the user not having been assigned OrangeBI User Security Roles. OrangeBI uses a unique set of Roles, which are different than those used in OrangeCRM. For that reason, OrangeBI User Roles must be managed separately.

Since role assignments are required for access, and because not all users will meet the requirements for having an OrangeBI Security Profile automatically assigned, some users will require manual Security Role/Profile assignments by a system admin in order for report access to be granted. For instructions, please visit the OrangeCRM Help Guide at help.orangecrm.com and navigate to the “Reports” book >How to Manage Report Users.

Time Saving Tip: Take advantage of OrangeBI’s automatic User Role assignment feature. The following two requirements must be met:

  1. The User must have an OrangeCRM Security Profile assignment
  2. A matching OrangeBI Security Profile must exist

When a new user is created, OrangeBI looks for an OrangeCRM Security Profile that matches one of its own Security Profiles. If it finds a match, all of the Roles that belong to the matching OrangeBI Security Profile will automatically be assigned to the user. This in turn changes the OrangeBI user’s status from New to Active, granting them instant access to reporting.

 

Is Your Business Ready for the EMV Chip Card Roll-out?

Tomorrow is the deadline that Visa and MasterCard have set for banks and retailers across the US to roll out a new system for more secure bank cards with microchips embedded in them. This change could potentially affect all types of businesses. Continue reading to find out how it may impact you and what actions are necessary.

How could EMV affect me?

While only establishments processing card-present transactions will be affected directly; companies that accept internet, phone or mail orders (card-not-present transactions) could experience dangerous side effects as a result of this change.

The way fraud liability is handled will be changing on October 1, 2015. If your customers use a chip enabled card for purchases made in person and you do not have an EMV reader, you may be liable for certain costs from counterfeit or stolen cards during card-present transactions. Previously, if businesses swiped a counterfeit or stolen card, the bank assumed the loss. To encourage retailers to adopt the more secure technology of EMV/chip cards, card issuers plan on shifting that loss to merchants, effective Oct 1.

Even if you strictly process card-not-present transactions, don’t breathe a sigh of relief just yet. An article published on creditcards.com states, “In every country that has switched to EMV cards — and the United States is the last developed country to do so — online fraud has jumped, says online fraud expert Brian Krebs.” The article goes on to explain, “as the ability to use counterfeit cards in stores dries up, fraudsters are expected to turn to other forms of fraud that prey on different vulnerabilities. At the top of the list, payment security experts say, is using stolen card numbers to buy stuff from the Internet. If counterfeiting physical cards is more trouble, criminals will naturally turn to buying items online with stolen credit card numbers. That’s been the pattern elsewhere, says Justin McDonald of The Fraud Practice, an anti-fraud consulting company.” Likewise, it wouldn’t be surprising to see an increase of credit card fraud in phone and mail orders as well.

What do I need to do?

If you process face-to-face credit card transactions, one of the first steps you need to take is to purchase EMV hardware. All of your customers’ cards will soon have their own embedded chip. Switching to an embedded reader may help reduce your liability for costs associated with certain kinds of credit card fraud. Click this link for a useful Step-by-Step Guide to EMV Migration for Small Businesses from Intuit.

If you accept internet, phone or mail orders, the coming spike in card-not-present fraud means you will need to improve controls to ensure that you know your customers are authentic. As with any type of fraud prevention, no single point solution will suffice. Merchants must take a layered approach to their defenses, for the best results. To read about some of the available technologies that can help reduce the impact of the rising tide of threats, check out this white paper prepared by research and advisory firm Aite Group, entitled Card-Not-Present Fraud in a Post-EMV Environment: Combating the Fraud Spike. Also helpful is this link to an article from smallbiztrends.com outlining 10 Tips for Preventing Online Credit Card Fraud.

For more information on avoiding payment fraud, check out Community Merchants USA’s resources online.

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