I have a few questions regarding face-to-face card-present transactions that are from in-store retail customers making purchases with a physical credit card. I’m looking to confirm the correct procedures and better understand the associated risks.
I accept credit cards cards in person using the Shopify GO EMV-compliant reader, and I never swipe magnetic stripes. All transactions are processed either via ‘tap’ or ‘chip insert’ through Shopify Payments.
1.) Regarding liability, provided I use this EMV-compliant card reader and either insert or tap the physical card, am I protected against losses from claims of fraudulent purchases?
- ) Are there any transaction limits I should be aware of? I regularly process single transactions in the $3,000 to $6,000 range.
3.) Is there any difference in liability between a ‘tap’ vs ‘chip insert’ transaction? Is one method considered safer or less risky than the other?
4.) If we suspect fraud, is there a number we can call to verify the card before processing the transaction?
5.) Lastly, is there anything else I can do to detect or prevent fraudulent card-present face-to-face transactions?
Thank you for your assistance.
I looked at most of the Shopify documentation but could not find anything related to this.