It is currently a dangerous time for a POS owner in Nigeria, as we continue to hear numerous stories of POS owners being robbed and scammed out of their hard-earned money.
It is always in our prayers and wishes that all POS agents remain safe and are never attacked. But we cannot deny our country’s current security situation or the need for POS owners to do everything possible to protect themselves, their businesses, and their employees.
Without further ado, here are eight (8) tips to help you stay safe as a POS owner:
Be Wary And Cautious Of Common Financial Scams All The Time.
The first step in protecting yourself from fraud is to educate yourself on some basic safety measures that are out there.
Some common banking frauds include – Phishing, Vishing, Smishing, Juice Jacking, etc.
Criminals operate in a variety of ways and may not be as easy to identify as we believe. Sometimes, they are or can behave like everyday people you may be familiar with, such as customers, family, or friends.
Make a Restricted Zone in your Office Space.
You can create a gated area where your customers are not allowed to go and where you can easily and comfortably attend to them.
Customers, visitors, and, in some cases, friends should not be able to access every part of your shop. To keep boundaries, signs such as ‘out of bounds,’ and ‘don’t go beyond this point’ should be used.
As a POS owner, If you only have room for one table and chair, make sure that all activity takes place in front of you.
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Keep Your Login Information Confidential And Create Secure Passwords.
A POS owner should in no circumstance reveal the login details, pins, or OTPs to anyone. Most individuals will trust anyone with their bank information and passwords, only to be disappointed afterward.
Create a strong, unique, and unpredictable password for all your devices. Bank account information, personal information, and passwords should all be kept private to maintain security.
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Avoid Having Large Sums Of Cash In Your Possession.
For your safety, ensure to deposit large sums of money in the bank or spread them out to other locations and facilities such as savings boxes, or a savings collector, rather than having such sums on you or in your location.
Keep Calm and Firm When It Comes To Transaction Issues.
Sometimes as a POS owner, you may encounter failed but debited transactions, pending transactions, and a variety of other network-related issues, which are sometimes unavoidable.
At this point, it’s best to stay calm and explain what needs to be done to your customers; log cash-out transactions as a dispute, and contact customer service about other transactions.
In cases of transfers for cash, if you haven’t seen your alert please do not disburse the money even if the customer shows you his.
Since your shop is stationed and you cannot flee, ask them to wait or come back after you receive yours. Always use your bank app or POS terminal to check your balance as SMS alerts may fail due to network issues.
Do Not Reply to Any Unsolicited Email Or SMS.
Keep an eye out for emails that appear to be from your bank and drive you to their websites.
These emails/SMSs are forged to direct you to a bogus website that may misuse your credentials.
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Security Starts With Your Device.
A fundamental tenet of safe agency banking is to ensure that the equipment (POS) you use for financial transactions is secure and impermeable.
POS merchants frequently overlook the need of keeping their POS machines secure from the reach of customers.
Where we have POS terminals such as Moniepoint POS, and Palmpay which are all considered the most secured POS terminal in Nigeria, there is still the need to make the security of their devices impermeable.
Also, always ensure to update the software of your POS machines to fix bugs, software vulnerabilities, and security problems.
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Keep Track Of Your Account.
Keeping track of one’s banking activity has gotten much easier thanks to SMS alerts.
SMS notifications tell the registered account holder immediately of any transfer of funds or attempts to log into one’s bank account. This aids in real-time surveillance of every transaction and alertness to the risk of any infringement.
A bank statement is another tool to evaluate financial activity. Bank Statements are a record of all of your transactions during a specific period. This allows the user to screen for disputable and questionable transactions more easily.
