thread Re: Fraud in Community Corner

Fraud

GCCB — Mon, 11 Sep 2023 12:10:17 GMT

Hi All,

I really need some help. I run a digital transaction business that is highly open to fraud but I want to move to Square. Can someone help me with how you have managed this and the step by step process. For example, will Square delay payment for say 3 days to ensure the funds are coming from a legitimate source?

Any guidance you guys have would be incredible

Kind Regards

James

Re: Fraud

Sam_400º — Mon, 11 Sep 2023 15:44:52 GMT

You’ve really not supplied a lot of information about what you do @GCCB.

First up you need to make sure what you do is covered by Square’s Terms Of Service.

Assuming you’re all good there, just need to answer the questions honestly and provide accurate information about your business.

If you’re worried about fraud from your customers then Square has it’s own set of Risk Manager tools within your dashboard that can be found under the “Payments” options.

Just a note - this is an open user to user community so if you do choose to share more info make sure it’s nothing too personal. If you need specific information relating you your business and personal trade then get in touch directly with Square on 0800 098 8008.

Re: Fraud

GCCB — Mon, 11 Sep 2023 18:05:38 GMT

he Hi Sam, Thanks so much help. So forgive me for asking a stupid question, what happens if someone buys my digital product on a stolen credit card, is there delay in the payment going through Stripe in order to validate the credit card is genuine? Also who covers the cost of chargebacks?

Stripe in the US have a suite of products that you pay for in fees but pretty much gives you total coverage

Sorry for the noobie questions

James

Re: Fraud

Sam_400º — Mon, 11 Sep 2023 19:25:27 GMT

@GCCB honestly - I’m not sure, if a card is reported lost/stolen then it’s blocked. Before that as far as I know the card holder was liable - but not sure if it’s all changed.

What is it that makes you so vulnerable to fraud?

Re: Fraud

Breffni — Tue, 12 Sep 2023 10:49:36 GMT

Hi @GCCB - I'm happy to hear you're considering Square for your business.

I think you are right to be cautious - unfortunately, buyer/transactional scams are on the rise.

Definitely a good tip to have a run-through of Square’s Terms Of Service and look into Risk Manager - thanks Sam for the tips.

We do not charge fees for any chargebacks on payments accepted with Square - the cost is included in our transaction fees which is different to most other payment processors.

You can review our disputes FAQ here.

In terms of monitoring transactions, to keep your account safe, Square offers live internal transaction monitoring. This allows us to spot suspicious transactions and review them. If we determine a transaction(s) on your account is likely to be the work of scammers, we’ll alert you via email.

You can learn more about how to protect yourself from scams and fraud here.

Re: Fraud

GCCB — Tue, 12 Sep 2023 21:11:12 GMT

Thanks @Breffni is there someone at Square I could talk to at all? I have tried raising a ticket but no-one so far has got back to me?

Re: Fraud

Breffni — Wed, 13 Sep 2023 06:25:33 GMT

You can find our direct support details here @GCCB however the information that our support team have will be the same as what's been provided here.