The following instructions and procedures, which will help you to complete transactions securely. You, the merchant, acknowledges that Riyad Bank shall not be held liable for any consequences arising from the application or misapplication thereof. Furthermore, the merchant shall follow these instructions:
Make sure that the credit card is not forged or stolen by:
Never divide the purchase amount over multiple transactions with one credit card
Make sure that the customer is not using his/her credit card randomly and wrongfully such as using more than one credit card without knowing the available balance
After completing the purchasing transaction, compare the last 4 digits of the credit card with the credit card number appearing on the receipt. If the number does not match, then the card is illegal
If the transaction is accepted and does not require entering a PIN, sign on the merchant receipt copy
Make sure that the credit cardholder signs the purchase invoice
Make sure that the signature on the receipt matches the signature on the back of the credit card
For hotels and travel agencies, review booking details (check-in date, check-out date, accommodation price per night, ticket price and cancellation policies) and prove it to the bank upon request
What is double swiping?
It is incorrect practice that is done by businesses when a cashier swipes or inserts a card in a POS to process payment, then swipes the magnetic strip again on the log machine for cash payments.
What are the risks that can harm the merchant as a result of double swiping a card using the log machine for cash payments?
The programs used on these machines are usually not secure because of the network and lack of antivirus programs to protect from fraud. This can cause security breaches and the merchants may suffer from one of the following:
- A full investigation on the merchant’s systems (which can be costly)
- Settling compensation claims for loss to banks
- Negatively affecting the public image of the business and its reputation thus impacting customer trust