November 4, 2014
Prepare Payments for the Big Holiday Rush: 3 Things to Do
According to the National Retail Federation, for the 2014 holiday season, retailers in the United States can anticipate a 4.1 percent increase in sales volumes compared with 2013, resulting in an expected $616.9 billion in total sales. As it is already November, the season is just kicking into gear. While the holidays are a time of increased volume, it’s also the time when merchants are most susceptible to fraud. Shift4 is here to help make your payments run smoothly and securely during the season. We also have a friendly reminder about three things you need to do to prepare your payment processing in advance of the big holiday rush.
- The first thing you should do is refresh yourself and your employees on the ways to combat fraud during the holidays. Seasonal hires are a mainstay of the holiday shopping season. And, unfortunately, so is theft! There are some criminals who take advantage of seasonal staff who may have minimal training or even seasoned employees who are busier than usual during the holiday sales. Shift4 has already published a few articles that would serve you well to review, including: Hiring for the Holidays? 5 Security Tips You Need to Know, ‘Tis the Season to be Vigilant, Simple Clues to Early Detection of a Computer Breach, and this Voice Authorization Refresher. We also have tips that we recommend sharing with all employees about preventing fraud in our Credit Card 101 tutorial. Check out the section on fraud.
- It is also important to ensure that your DOLLARS ON THE NET® account settings are up to date prior to the holiday shopping and travel season. Make sure that only those current employees who should have access to log into your account have authorization. Next, check your Fraud Sentry® settings to protect yourself from “trusted-employee” fraud. Also, to prepare for any unexpected connectivity issues during your busiest time of year, you may want to activate Secure Offline Stand-In®, which allows you to set a threshold at which your employees can process transactions while working offline.
- Finally, it is beneficial to identify days or periods when you might anticipate extremely high sales volumes, such as a day when sales might increase to three times more than a typical day or when your hours will be significantly extended. Don’t forget to give Shift4 a quick heads-up if you are expecting a large variance in sales or hours during a big holiday promotion, on Black Friday, or during the increasingly popular Cyber Monday. Shift4 is always here to ensure that your payments are ready to roll, but informing our Customer Support team about an expected increase in transaction volume or extended hours gives us a chance to cater support to meet your specific business needs.
As usual, Shift4’s team of payments experts will be here throughout the entire season. If you have any questions, contact our world-class 24/7/365 Customer Support department at [email protected] or 702.597.2480, option 2.