FAQs

The Payment Card Industry Security Standards Council has created security requirements for all merchants whom accept payment cards to be compliant. Most merchants will fall into simply completing the self-assessment questionnaire (SAQ) and reaffirming it annually. Some will also need to have quarterly scans run against their IP address(s). Your current card processor should have sent you enrollment information on the PCI-SAQ and hopefully guided you to complete such.

The answer is along the same lines as the chip card question. At the countertop ask for ID when a payment card is presented. Shipping it – possibly use third party delivery site. Beyond those steps, ship the jewelry timely as promised to the cardholder.

This is always a loaded question. The problem is that many jewelers either use no software or have software but it is not integrated to their payment processor. Sale is one amount in computer but clerk miss-keys a $695.00 sale as $395.00. The “3” is right above the “6” key on the credit card terminal. You do not realize until that evening or next morning via batch report. Integrated payments will transmit sale amount into payment card terminal leaving the customer to simply swipe or dip their card. No transactional amount needs to be entered by the sales clerk. Short of integrated data feed, have your clerks slow down and verify card amount is correct into terminal.

Unfortunately, this problem is caused by the credit card processor and the sales representative not being familiar with jewelers. They write your account for a $700 average sale but you have SKUs $4K up. They never accounted for larger transactional size amounts and the account was not underwritten for such. When presented a larger sale amount, the ticket size problem occurs. The recommendation – make sure your processor is asking you questions about your product inventory to insure price ranges are considered.

The answer is like the average sale question. The processor could have factored your median monthly sales volume but not when seasonal adjustments can spike activity – February, May, November and December. If your store does double, triple or more of the median month, that should be noted so when the seasonal months come into swing, there occurs no holdback or ceiling limits but on. The last thing you want is to be limited on volume you can process and ask that customer to pay by cash or check. Could be the difference of sale or no sale.

The new chip cards do prevent against the cards being duplicated in the market. However, they although do not prevent against fraudulent activity at the countertop or online. Here are basic steps you can do to reduce against fraudulent activity at your jewelry store.

At countertop – ask to see driver’s license. Make sure name & signature matches on both – license and payment card.

Online and phone orders are tricky. Unfortunately, there is no bullet proof way to prevent against a fraudulent sale. You can and should ask for billing address. Can require Fed Ex or UPS signature at delivery! Although confirming billing address and obtaining signature will not guarantee against a fraudulent sale. The safest method to ship jewelry to a customer you do not know, utilize a third-party receiver. A common third party receiver is Fed Ex or UPS stores. Ship the jewelry to the closest store to the customer. It requires the customer to enter that store and the clerks there will ask for identification. Between the stores video surveillance and staff, it will “reduce” risk with shipping. However, reduce does not mean eliminate.