Chargeback Effects On My Business It used to be that if you got a faulty product, poor service or were simply double charged, you decided to chargeback the purchase. With today’s economy and fraud on the rise, chargebacks are becoming more main stream and more purchases are being made with stolen cards. Losses of jobs cause people […]
According to the U.S Internet Crime Complaint Center in 2016, there were more than 280,000 internet fraud reports in the United States alone. One type of online fraud that most people are familiar with is a scam run on Craigslist where the seller receives an email from a prospective buyer offering to send a cashier’s […]
Every day more businesses are going out of business and layoffs continue to plague the nation. The traditional brick-and mortar merchant may slowly become a thing of the past. Many are trying their hand at home-based businesses and internet ventures. Over the past year we have seen a significant rise in companies like mortgage restructuring, […]
Even if you’ve never been on the dreaded Terminated Merchant File (also known as the TMF MATCH List, you need to take measures to ensure that you don’t end up on it. How? For starters, rethink whom you do business with. Signing up with the wrong processor greatly increases your chance of landing on the MATCH file, […]
PCI Compliance is Coming Soon June 2018 SSL encryption is a standard encryption method used for decades. A vulnerability named POODLE has been detected within SSL and is no longer PCI compliant. POODLE (Padding Oracle On Downgraded Legacy Encryption) is a vulnerability in SSL that could allow a hacker to extract data from secure online […]
The sales associates at retail outlets following proper security guidelines is a good start to protecting against fraud this holiday season. But what if you are an online business, or the magnetic strip on a card does not work? In Part 1 of this topic, we talked about proper procedure for accepting cards in a card present […]
To keep your chargeback ratio in check you have to take a proactive role. You can actually prevent chargebacks from escalating – and counting towards your monthly allotment. The most common categories for chargebacks include point-of-sale errors, customer disputes, and fraud – and within these categories are a multitude of possible reasons. Understanding the reasons provides insight […]
We all frequently read about various types of scams to look out for, warnings of Packet Sniffing, and stolen card numbers. The real scams to look for are the ones that are directly on your merchant account application. Merchant Account Fees seem to suddenly pop up after you have signed your agreement. One of the […]
The EMV Standard and Payment Security In the UK, the migration to EMV technology has reduced fraud with payment security in face-to-face transactions since EMV adoption in 2003. The EMV standard operates with EMV-compliant cards (which have embedded chips instead of magnetic stripes) and EMV-compliant POS terminals. The chips require a PIN entry for a […]
FTC Calls for Reform The FTC has recently called for reforms to the Federal Telemarketing Sales Rule and as a result has issued a Notice of Proposed Rule Making. The proposed amendments would prohibit the use of certain novel payment methods by telemarketers and extend the ban on recovery services. If the amendments are approved […]
