Payment Card Scams on the Rise in Tanzania: How Visa is Helping Merchants Stay Safe

Tanzania, United Republic of - With fraudulent activities increasing in Tanzania, payment card scams have become a significant concern for local businesses. In response, Visa has launched various tools and resources to prevent and detect fraudulent transactions.

Preventing Fraudulent Transactions

For merchants who accept payments in person, Visa recommends taking extra precautions to ensure the legitimacy of every transaction. This includes:

• Verifying the identity of the cardholder
• Checking the security elements on the card

However, for transactions conducted remotely or online, additional measures must be taken to prevent fraud. Visa suggests using secure payment applications, such as:

• Verified by Visa: requires cardholders to enter a password to verify their identity in real-time
• Address Verification Service (AVS): checks the billing address with the card issuer to ensure it matches the transaction details

Cybersource: A Comprehensive Payment Solution

Cybersource, another Visa service, provides online payment processing, fraud management, and simplified payment security for businesses. This comprehensive solution helps merchants to:

• Process transactions securely
• Manage fraud effectively
• Simplify payment processes

Detecting Fraudulent Transactions

In cases where a merchant suspects fraudulent activity, they are advised to trust their instincts and take extra precautions to verify the authenticity of the transaction. This includes:

• Checking the shipping address
• Conducting thorough research on the customer’s identity

Government Initiative to Combat Financial Crimes

The Tanzanian government has launched a new initiative aimed at combating financial crimes, including payment card fraud. This move is seen as a major step forward in protecting the country’s economy from fraudulent activities.

Visa’s Commitment to Preventing Payment Card Fraud

With Visa leading the way in providing innovative solutions for payment card fraud prevention, local businesses can rest assured that they have the support and resources needed to prevent and detect fraudulent transactions. Visa is committed to helping merchants protect their customers’ sensitive information and maintain a secure payment environment.

By taking advantage of Visa’s tools and resources, local businesses in Tanzania can minimize the risk of payment card scams and ensure a safe and secure payment experience for their customers.