We find that so many small businesses that accept credit cards are frustrated by the fees associated with card acceptance and are concerned about data breaches. That’s why we created Master Your Card—a community empowerment program that helps businesses navigate the card acceptance landscape to reap the benefits of card acceptance and minimize the frustration. I’m Ravi Aurora, an Executive Director at MasterCard Worldwide, and a senior advisor to Master Your Card. We’re not here to sell products to your members; we’re here to show them how to get the most from the electronic payment products in the marketplace. Our goal in this campaign is to educate, inform, and inspire small businesses—your members. With the help of our tools and resources, your members will spend less time navigating this often-confusing space and more time running and growing their business.
We’d like to invite you to become a partner with Master Your Card. As a partner, you will receive regular content updates produced for web, social media, email and events, and in multiple formats like text, tweets, short videos, infographics, and webinars. We’ll cover topics such as the advantages of cards over cash, choosing the right processor and negotiating the best deal, securing your business from fraud and the future of electronic payments. All we ask in return is that you distribute the content to your members and lend your organization’s name as a partner to Master Your Card. Additionally, we will include your organization’s name and/or logo on our materials.
Below you will see some examples of our content that you can review and begin sharing. Please click here to sign up to be a Master Your Card partner and receive ongoing updates. A representative of Master Your Card will also contact you shortly to follow up.
We know as a membership organization, you constantly need to provide your member companies with valuable resources to run their business and we want to be your partner in that effort. Thank you and we look forward to working with your organization on this educational campaign.
SECURING YOUR DATA
AND YOUR BUSINESS
Keeping your customers’ personal information secure is critical in earning and keeping their trust, and protecting your business from a costly data breach. Don’t repeat the mistakes too many businesses make. Use these common sense steps to keep your customers’ trust. For more tips and resources, visit MasterYourCardUSA.org/small-business.
Follow these tips to protect your business and prevent potential security issues:
• Update your business software regularly: Publishers will update their software as new vulnerabilities are detected and fixed.
• Install firewalls to prevent unauthorized visitors into your Internet network: Installing firewall software is yet another line of defense your small business can use to prevent data breaches. • Need-to-know access: Data access should be on a need-to-know basis, so assign appropriate system permissions to each employee.
• Use multi-factor authentication: A two-step authentication requirement to access sensitive information in your systems is a major defense against hacking. You can learn more about this free security feature at https://www.turnon2fa.com/.
• Automatically scan all emails and attachments: Install and use email security software to scan all incoming emails for malware. Ask your processor for any recommended malware software your small business should be using.
Take these immediate and long-term actions if you find your business or website under attack from hackers:
• Disconnect your systems immediately: Make sure you disconnect from the network to keep the attack from continuing while you resolve the problem.
• Notify your payment partners: If you suspect a data breach, notify your bank, your processor, and the payment networks you use to make them aware of the issue. They can diagnose the issue and provide specific steps to stop the attack and minimize any liability.
• Fix the cause: After isolating the entry point of the hacking attempt, you might have to uninstall then re-install the affected system to remove the virus from your networks
• Communicate with customers: It’s important to be as transparent as possible about the issue, especially if your customers are affected. Notify those who have been affected and work with them to resolve any issues they may have stemming from the data breach.
Accepting card payments is safe, simple and secure. While some fraudsters may try to take advantage of small businesses because they think they are easier targets, you can protect yourself with prevention, prediction, detection and resolution. For more tips and resources, visit MasterYourCardUSA.org/small-business.
• Invest in accepting chip cards (EMV). It’s more secure and customers want it—in fact, 80% of consumers expect to use their chip cards where they shop.
• Chip-enabled terminals automatically limit your liability on chargebacks.
• For non-chip cards, check the security features on any physical card you accept—hologram, embossed numbers, signatures, etc.
• Confirm the Card Verification Code (CVC) to make sure the online or phone purchaser has the card in hand.
• Take advantage of mobile wallets, contactless payments, PayPass™ and others that authorize payments without storing sensitive information on your local system.
• Make sure you know your options and have instant communication from payment networks, processors and banks when a potentially fraudulent payment authorization is requested.
• Use your common sense about customers’ usual purchase patterns and double-check when something seems amiss.
• Call customers and confirm remote purchases before shipping an unusual or large order.
• Explore the Electronic Monitoring Solutions (EMS) that payment networks like MasterCard provide. To learn more about these electronic monitoring solutions, please visit MasterCard In Control.
• Let the security of card technology work for you—when transactions are denied or flagged as problematic, trust those warnings and communicate with the card networks to confirm before allowing customers to receive goods and services.
• Protect your own business credit cards by signing up for fraud warnings by text or email.
• To reduce damage after fraud is discovered, call the payment network or the cardholder’s issuing bank. The bank will communicate directly with the actual cardholder and open a fraud protection investigation.
• When a customer’s bank issues a chargeback against your account, make sure your processor or bank advocates for your rights and contests them when appropriate.
MAKE YOUR BUSINESS
It’s important that your small business becomes and remains PCI compliant to reduce your likelihood of a costly compromise. To learn more about PCI compliance, visit our Resources and Compliance information page at www.mastercard.com/sdp