In a recent article, we went over what types of fraud hotel merchant’s faced. These fraud types ranged from fraudsters test cards to chargeback fraudsters taking advantage of the dispute process. While merchants need to be aware of the types of fraud they may face, it is even more vital to take steps to prevent fraud. American Express put together a checklist to help hospitality merchants handle and avoid disputes. We will take a look at … Read More
Fraud Dispute Reason Codes and What They Mean
Tracking reason codes and dispute categories can bring insights into what is causing a merchant’s disputes and how to prevent them. This post will break down the types of disputes, what fraud dispute can tell you about your company, and insights into all the card network’s fraud reason codes. Your company’s unique dispute ecosystem provides valuable insights into the operational aspects of your business. Every dispute processed is categorized under an applicable reason code. Reason codes … Read More
Visa Free Trial and Subscription Changes – April 2020
Visa announced upcoming changes for subscription merchants. If you are currently offering a free trial or introductory offers that roll straight into the ongoing subscription service, these changes will affect you. We will go over what Visa has released about these changes and their logic behind the change. Visa announced that starting April 18, 2020, there will be updates to the rules and requirements surrounding free trials or introductory offers that roll into an ongoing subscription … Read More
What is Verified by Visa and 3D Secure?
While merchants should always look for ways to reduce the risk of fraud, it is possible to put too much protection in place. Excessive fraud prevention measures can create too much friction at check out, turn away legitimate customers, and create a loss of sales. So, what can you do to prevent fraud while still creating a frictionless experience for customers? Verified by Visa helps merchants add more security at checkout and keeps the checkout process … Read More
Common Challenges with Chargebacks in the Supplemental Insurance Sphere
Randolph Bunnell is an experienced copywriter and marketing consultant. He has a deep knowledge of digital marketing and SEO. Randolph also has a medical background and enthusiastic about healthcare technologies. He shares helpful tips and info about health problems treatment in his blog Skin Answer. The supplemental insurance industry has come a long way since its inception. It plays a significant role by chipping in where basic health insurance plans don’t cover. Supplemental insurance is an … Read More
What are Chargebacks? How to Avoid Chargebacks in Restaurants
Sawailal Jangid is Digital Marketing Executive and Content Analyst at SotwareSuggest. He does researches and analyzes software to educate and advice to the business managers to streamline their business. In spare time he loves to do sports activities. Running a restaurant today is no mean feat. Among its many challenges, chargebacks are increasingly becoming a major concern for restaurateurs. It’s a messy affair. You lose money that was in the bank. You may have a case … Read More
What is PCI? How Payment Card Industry Data Security Standard Works
Any company that processes or interacts with credit cards needs to be fully aware of the PCI standards. It is vital that merchants adhere to the PCI guidelines to protect themselves and their customer’s data. The PCI Security Council is a global organization with the goal to promote and help maintain security for cardholder information. The council creates, supports, and promotes the Payment Card Industry Security Standards. This is done through the creation of assessment and … Read More
What are Payment Gateways: How do they Compare to Merchant Accounts
Processing payments is not as simple as it seems to the customer making the purchase. It is crucial for merchants to be informed about all parties in the payment process and how they work together. This post will go through an overview of the payment process, then a deeper dive into two parties: payment gateways and merchant accounts. The payment process from the side of the cardholder happens in just a few seconds as the chip … Read More
What is Digital Merchant Customer Bypass?
Digital merchants face more challenges than physical good merchants when it comes to disputes. Because of the nature of digital goods, how they are delivered, and how customers perceive the company’s customer services all add to the dispute risk. We will go over how customer bypass is one of the factors that leads to digital good disputes and show a few techniques that merchants can implement to prevent this. Customer bypass is when a cardholder has … Read More
Are Mobile Wallets Safer for Merchants?
Mobile wallets are becoming a standard payment option for customers. When customers use their mobile wallet, there is a convenience factor for customers and a security factor for merchants. We will take a look at who is using mobile wallets, and how it benefits both customers and merchants. A mobile wallet is when an app on a smartphone, smartwatch, or tablet creates the capability to hold payment card information and make purchases in-store, in-app, or even … Read More