Zero-Floor Limit
Candlefocus EditorThe idea behind the zero-floor limit is that all transactions should be checked, regardless of their size. This helps protect the company, as well as the customer, by ensuring that any potentially fraudulent payments are prevented before they can be accepted. Without this policy in place, criminals could potentially exploit the system by conducting a series of small transactions that would otherwise go unnoticed.
The zero-floor limit is especially important for organizations that process a large volume of payments. Computerized payment processing systems are designed to be faster and more efficient than manual processes, but this means that even small transactions must be monitored closely. Implementing a zero-floor limit helps to ensure that all transactions are screened and that any potential fraud is detected and prevented before it becomes a problem.
Since the introduction of the zero-floor limit, it has become increasingly common for businesses to use it in their payment processing systems. Not only does it help protect against fraudulent transactions, but it also ensures that all payments are authorized before they can be accepted. This helps to speed up the process and make it more efficient, as well as reducing the risk of fraud.
Overall, the zero-floor limit is an important policy that helps protect against fraud and ensures that all transactions are properly authorized. It has become increasingly common, due to the speed of computerized payment processing systems, and is a must-have for any organization that processes a large number of payments. Implementing a zero-floor limit helps to speed up the process and reduce the risk of fraud, keeping the company and customers both safe and secure.