Shops carry the losses of credit card fraud

One retailer wants to know why shops are carrying the losses, when they're hit by credit card fraud and not the companies, whose cards are being used for the dodgy transactions. Earlier this month a customer spent about $3000 on gift vouchers and goods, at Cactus Outdoor, a clothing and outdoor equipment shop in Ponsonby, Auckland. He paid with a Visa. CCTV seen by Checkpoint shows the man apparently tapping a credit card on the eftpos machine and entering a pin number; the transaction goes through. But a few days after the sale, the card holders bank, BNZ contacted the store and said it was a "card not present transaction" and the $3000 spend was not inititated or authorised by the cardholder, it took the money back out of the shop's banks account. Cactus Outdoor Managing Director Ben Kepes spoke to Lisa Owen.