How We Protect Your Business with Square Secure
Running a business is tough work. There are customers to attend to and inventory to think about and employees to manage — your to-do list is never-ending. And then there is the risk you take on as a business owner.
We want you to know there’s a service that moves a few things from your list to ours and helps lessen some of the risk you take as a business owner: Square Secure.
Square Secure provides support in combating some of the most worrisome issues facing business owners: chargebacks, fraud, and data security.
All this is included with Square’s payment processing fee of 2.75 percent per swipe, dip, or tap. Get started with Square.
Here’s how the program protects your business:
Chargeback Protection and related services
Chargebacks happen when customers contest a charge on their statement with their card-issuing bank. A chargeback can be a huge pain for small businesses since it means that the funds in dispute are held from the merchant while the card issuer works things out.
Square Secure covers up to $250 of qualified chargebacks per month. And our dedicated disputes team fights chargebacks on a seller’s behalf.
Fraud and transaction monitoring
Square’s fraud monitoring services analyze transactions as they are happening, an approach that helps us detect and intercept suspicious transactions before charges occur. This protects your business from product/service theft and chargebacks.
Account takeover (“ATO”) prevention
An account takeover happens when a fraudster uses parts of a person’s identity (such as an email address) to gain access to financial accounts. Square protects against ATO by monitoring accounts for unusual activity or changes, offering two-factor authentication to secure your login, and reaching out to you if we see anything suspicious.
Information and data security (PCI compliance)
Data security is of the utmost importance to us. To protect account holders and their customers, Square systems are equipped with industry-leading technology and security controls that meet or exceed PCI standards. Square encrypts credit card data at the point of swipe, dip, or tap such that the data cannot be decrypted until it reaches servers in our PCI-compliant processing environment. This end-to-end encryption protects your data during transmission, whether you’re using a public or private Wi-Fi connection or a data service on a mobile device.
In addition to the systems that protect your data, we also provide support. If there is an industry event that deals with data security, our team proactively helps sellers defend against potential risks.