Matthew Focht, president of Tru®, a consulting company that negotiates credit card processing rates for jewelers, recommends following these basic steps to protect shipments:
- Get the customer’s information: This may sound obvious, but professional thieves can be very good at making you feel comfortable with them, while making you feel uncomfortable for asking for too much information. When not accepting payments in person, feel free to get the customer to email or fax a copy of their driver’s license and be sure to match the signature on the license with the signature on your receipt. In addition, make sure that the zip code and CVV2 number match when processing the credit card transaction.
- Require more protection from your shipper: Most major shipping companies, for a fee, will take additional steps to insure that your package is being delivered to the right person. Ask them about the additional options they have available. Knowing your options, and the costs, will allow you to decide if you would like to implement a program across the board, or just for transactions over a certain dollar amount.
- No Match? No Sale: It can be difficult passing up on a $20,000 sale. However losing $20,000 is much more devastating. Check with your insurance provider to see what is required for reimbursement. Keep in mind that most online retailers will not process the transaction if 100% of the information provided does not match what has been provided by the customer.
Take The Tip:
Tru is an exclusive partner with Jewelers of America and offers the guaranteed lowest credit card processing rates and free consulting for JA members. For more information please visit www.jewelers.org/tru. To contact Michael Lepore, Jewelers of America’s dedicated TRU consultant, please call 877-878-1777 or email [email protected].