Interac - For Merchants

 

Stop fraud
before it starts

We all play a role in fighting fraud. Merchants play a critical role in stopping fraud before it starts. If your PIN pad is stolen or your customer’s Interac debit card is compromised, your brand or business may suffer. Being alert and carrying out basic fraud prevention measures will help you reduce the risk of experiencing fraud at the point-of-sale.

Stop fraud

before it starts

We all play a role in fighting fraud. Merchants play a critical role in stopping fraud before it starts. If your PIN pad is stolen or your customer’s debit card is compromised, your brand or business may suffer. Being alert and carrying out basic fraud prevention measures will help you reduce the risk of experiencing fraud at the point-of-sale.

Here are some things you can do to help protect your business

  1. Treat your PIN pad like cash

    Keep PIN pads out of sight when not in use and lock up standalone terminals at the end of the day.

  2. Carry out daily checks

    Look for signs of PIN pad tampering, check the PIN pad’s serial number to ensure it has not be stolen and replaced with a decoy, and inspect the cash area for signs of hidden pinhole cameras or unexplained wires.

  3. Know your employees/coworkers

    Implementing strict hiring procedures is an important step in fraud prevention as criminals may make their way into an organization or approach employees to assist them with illegal activity.

  4. Contact law enforcement

    If you suspect PIN pad tampering or other suspicious activity, consult your local law enforcement and your acquirer/payment service provider immediately.

We see investments in system security as core investments, and this vision, we believe, carries with it advantages in many areas. Our multi-layer strategy includes significant investments in consumer and merchant education and the migration to chip technology. And, we are delivering unique and powerful fraud management tools to our clients and service participants.

Merchant Safety Tips

Merchants can help protect themselves against Interac debit card fraud:

  • When making an Interac Debit purchase, your customer is responsible for inserting their Interac debit card into the terminal and entering their PIN.
  • Similarly, your customer is responsible for making an Interac Flash transaction – the merchant can verbally assist by directing them to hold their card or mobile phone above the PIN pad.
  • Treat your PIN pads like cash. Keep PIN pads out-of-sight when not in use.
  • Check your PIN pads and Automated Banking Machines (ABMs) regularly for anything unusual.
  • Lock-up PIN pads at closing.
  • Include log-in sheets for accountability of PIN pad in cash open and close procedures.
  • Consider adding surveillance cameras
  • Know your employees - exercise due diligence when hiring and check references.
  • Remind your customers to protect their PIN when entering it at every opportunity and take their card when the transaction is complete.
  • Talk to your payment service provider about other steps you can take to prevent fraud from happening at your location.

Merchant Safety Tips

Merchants can help protect themselves against debit card fraud:

  • When making an Interac Debit purchase, your customer is responsible for inserting their debit card into the terminal and entering their PIN.
  • Similarly, your customer is responsible for making an Interac Flash transaction – the merchant can verbally assist by directing them to hold their card or mobile phone above the PIN pad.
  • Treat your PIN pads like cash. Keep PIN pads out-of-sight when not in use.
  • Check your PIN pads and Automated Banking Machines (ABMs) regularly for anything unusual.
  • Lock-up PIN pads at closing.
  • Include log-in sheets for accountability of PIN pad in cash open and close procedures.
  • Consider adding surveillance cameras
  • Know your employees - exercise due diligence when hiring and check references.
  • Remind your customers to protect their PIN when entering it at every opportunity and take their card when the transaction is complete.
  • Talk to your payment service provider about other steps you can take to prevent fraud from happening at your location.

Migration to Chip Technology

The conversion to chip technology in Interac debit cards, Automated Banking Machines (ABMs) and Point-of-Sale (POS) terminals has been extremely successful. Cards and ABMs have been converted and over 99 per cent of POS terminals. Leading into the deadline for POS terminal conversion, a fraction of one per cent of POS terminals have not been converted. To ensure an effective completion of conversion, Interac Association has extended its chip conversion deadline at the point-of-sale from December 31, 2015 to September 30, 2016 for Members seeking a temporary exemption. This means that Issuers and Acquirers will be able to continue accepting magnetic stripe Interac Debit transactions originating from magnetic stripe terminals. During this exemption period, Issuers will continue having the right to accept or decline non-chip transactions at their own discretion, and Acquirers will be responsible for confirmed fraud losses should they occur on magnetic stripe terminals.

Click here to learn about Interac fraud prevention.

What is Chip?

Interac debit cards contain an embedded microchip that puts the power of a computer onto your card. Chip card technology is based on a global standard known as EMV, a proven technology in wide use around the world.

Chip technology is both secure and smart, giving your card the ability to store and process data securely. Unlike a magnetic stripe, this processing power makes it extremely difficult to copy and reproduce. This processing power is used, together with cryptography to allow the card and terminal to communicate with one another to carry out security checks to ensure the card is valid. Chip technology also enables advancements like Interac Flash.

Chip cards will continue to carry the magnetic stripe, not only to facilitate the chip transition period, but also to allow cardholders to use their debit cards in other countries that do not use chip technology.

 

What is Chip?

Interac debit cards contain an embedded microchip that puts the power of a computer onto your card. Chip card technology is based on a global standard known as EMV, a proven technology in wide use around the world.

Chip technology is both secure and smart, giving your card the ability to store and process data securely. Unlike a magnetic stripe, this processing power makes it extremely difficult to copy and reproduce. This processing power is used, together with cryptography to allow the card and terminal to communicate with one another to carry out security checks to ensure the card is valid. Chip technology also enables advancements like Interac Flash.

Chip cards will continue to carry the magnetic stripe, not only to facilitate the chip transition period, but also to allow cardholders to use their debit cards in other countries that do not use chip technology.

 

How chip technology works

Ever wonder what goes on when you put your Interac debit card in a Point-of-Sale (POS) terminal or an ABM, and what it means to you? Take a look at how it all works at a POS terminal below.

security infographic

How chip technology works

Ever wonder what goes on when you put your Interac chip debit card in a Point-of-Sale (POS) terminal or an ABM, and what it means to you? Take a look at how it all works at a POS terminal below.

security infographic