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You are here: Home -> Business Centre -> Payment Types -> Payment Cards -> Safe and Secure Payment Card Acceptance A A 

The payments industry is fighting fraud but criminal activity in relation to cards is persistent. While card issuers and processors, as well as payment card schemes and associations such as IPSO, do a lot of work on card fraud prevention, shops and merchants can also play a key role in fraud prevention.

 

Affect of Card Fraud on Retailers
In 2008, fraud losses on payment cards in Ireland amounted to over €16 million. Technological advances in payment security technologies, such as Chip and PIN, have dramatically reduced exposure to fraud risks, specifically for the ’Card Present’ environment i.e. where payment cards are used in a face to face setting. However, there is a growing trend in fraud taking place on payment cards in a ‘Card Not Present’ (CNP) environment typically on the Internet, but also using mail/phone orders. According to lastest fraud statistics, more than 64% of all fraud carried out on Irish payment cards is now carried out in a CNP environment. This typically occurs when people who unlawfully obtain card details use them on the Internet or over the phone to purchase goods/services from shops and merchants.

To help the industry fight fraud retailers need to be proactive about fraud prevention.

SafeCard – The fraud prevention website

SafeCard was established by IPSO to raise awareness of card fraud. For more information on card fraud prevention and to find a comprehensive list of frequently asked questions, training materials and lots of useful fraud prevention advice, visit www.SafeCard.ie.

 

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