How to Manage ‘Canceled Recurring Transaction’ Chargebacks
Both Visa (41) and MasterCard (4841) use special Reason Codes to designate chargebacks issued in connection with canceled recurring transactions.
View ArticleBank of America Teams up with Visa to Test Contactless Payments
Another huge bank is teaming up with a giant credit card company for a contactless payment project. This time the names are Bank of America and Visa.
View ArticleHow to Manage ‘Not as Described or Defective Merchandise’ Chargebacks
Both Visa (53) and MasterCard (4853) have Reason Codes designating chargebacks issued when cardholders state a purchased product was not as described.
View ArticleHow to Manage ‘Requested Copy Illegible or Invalid’ Chargebacks
Visa uses Reason Code 60 to designate chargebacks resulting when a copy of a sales receipt, requested by the card issuer, is illegible or incomplete.
View ArticleVisa’s Account Data Recovery Process
The Account Data Compromise Recovery (ADCR) process enables issuers to recover card account data that have been linked to counterfeit fraud.
View Article6 Reasons Why Visa Can Terminate Your Merchant Agreement
Visa can permanently ban a merchant or one of its principals, from accepting Visa or Visa Electron card payments for a number of reasons.
View ArticleVisa Joins MasterCard in NY MTA’s Contactless Card Payment Test
Visa is joining MasterCard in testing a pilot program that allows NY commuters to pay fares by waving their phones by a specially equipped turnstile.
View ArticleVisa and MasterCard to Settle an Antitrust Probe
Visa and MasterCard are close to settling an antitrust probe over restrictions the two card associations impose on merchants accepting their cards.
View ArticleAmerican Express Refuses to Settle, DoJ Files an Antitrust Suit
American Express to fight in court government antitrust charges stemming from its policies prohibiting merchants to steer customers to other cards.
View ArticleWells Fargo to Test Visa’s SD Card-Based Mobile Payments Service
Wells Fargo is testing Visa's latest NFC mobile payments service, based on the In2Pay microSD card; big banks neglect bigger m-payment opportunities.
View ArticleVisa Brings Mobile Payments to iPhones in Europe
Visa and Wireless Dynamics enable European iPhone users to make purchases by simply touching their phone to any contactless-enabled POS terminal.
View ArticleU.S. Credit Card Spending Jumps, Visa and MasterCard Profits Follow
Consumers spent $752B on MasterCard and $897B on Visa credit and debit cards globally in the previous quarter, up 11% and 15%, respectively.
View ArticleHow Visa and MasterCard Manage Excessive Chargeback Levels
Visa and MasterCard consider chargeback levels to be excessive if in two consecutive months the merchant has a minimum chargeback ratio of 1%.
View ArticleVisa to Enable Person-to-Person Credit Card Payments in the U.S.
Visa's new person-to-person (P2P) service will allow transfers and payments to be made to, from or between credit and debit card accounts.
View ArticleVisa Backs Mobile Payments Start-up Square
Visa, the biggest credit card payment network in the world, has invested an unspecified amount in mobile payments start-up Square.
View ArticleVisa’s Digital Wallet Coming to the U.S. in the Fall
Visa's digital wallet will allow users to make payments by entering an email address, instead of an account number, address, expiration date, etc.
View ArticleHow to Manage the CVV2 Card Verification Process
CVV2 is a 3-digit code printed on the back of all valid Visa cards to help verify that a customer is in possession of the card at the time of order.
View ArticleNFC Ascent Pushes Visa to Speed up Adoption of Smart Credit Cards
Visa requires all US processors to support acceptance of EMV cards by 04/01/2013, to prepare the ground for the arrival of NFC-based mobile payments.
View ArticleWhat All Face-to-Face Merchants Ought to Know about the Visa Easy Payment...
Visa Easy Payment Service allows merchants to accept cards without having to obtain a signature or PIN from the cardholder or printing out a receipt.
View ArticleThe Bare Basics You Ought to Know about Visa’s Transaction Processing System
VisaNet connects Visa's payment network with Visa's member bank's and with other networks to facilitate transaction processing and other services.
View ArticleThe Basics You Need to Know about Visa’s Check Acceptance Service
Visa's Check Acceptance Service enables U.S. merchants to accept checks, once the check processing company has authorized the payment.
View ArticleThe Basics You Need to Know about Visa’s Card Verification Value (CVV)
Visa's Card Verification Value (CVV) is a 3-digit number encoded on Visa credit and debit cards, either in the card's magnetic stripe or in the chip.
View ArticleHow Visa’s Payment System Works
Visa's payment system facilitates the exchange of information and funds among banks, merchants, consumers, businesses, non-profits and governments.
View Article8 Risk Management Services to Help You Fight Fraud
There is a wide range of risk management services that merchants and processors can choose from and implement into their fraud prevention strategies.
View ArticleHow New Chip Cards Cure Americans’ Headaches at European Checkouts
New Chase credit cards feature a chip and a mag-stripe, which makes them acceptable both in the U.S. and Europe, to the relief of American travelers.
View Article13 Signs of a Valid Visa Card
All valid Visa credit and debit cards display a set of unique features that make them easy to validate. You should be familiar with them.
View ArticleWould You Pay by a Credit Card if a Retailer Charged a Fee for It?
Merchants are getting paid $7.25B by Visa and MasterCard in an antitrust settlement and are now allowed to place surcharges on credit card payments.
View ArticleHow to Alienate Your Credit Card Customers
Visa, an official sponsor of the London Olympics, has removed 27 ATMs and will not allow any other card brand to be used at the Olympic venues.
View ArticleWhat’s Wrong with Visa?
Visa has inexplicably banned iZettle, a Sweden-based Square-lookalike, from processing Visa cards in three European countries, but not in others.
View ArticleThe European Union MIF-ed by Visa
The EC is banning Visa from charging cross-border fees on credit card transactions between European countries and on some domestic transactions; it makes sense.
View ArticleWhy Do Americans Like AmEx and Discover Better than MasterCard and Visa?
AmEx is ranked highest for customer satisfaction for a 6th year in a row; Discover is close second and Visa and MasterCard issuers are trailing far behind.
View ArticleSquaring up Mobile Payments in the U.K.
Despite an earlier ban by Visa, Swedish mobile payments start-up iZettle has been doing quite well in Northern Europe and has now launched in the U.K.
View ArticleVisa vs. Mobile Payments, iZettle Edition
Visa, an early investor in Square, is holding off approval of rival mobile payments services in Europe. Is it in anticipation of an upcoming Square launch?
View ArticleHow New Technologies Are Helping, not Killing, Credit Card Companies
New mobile payments companies like Square have added millions of new merchants to the lists of the traditional card networks like Visa and MasterCard.
View ArticleHow Many PayPals Do We Need?
Visa's V.me virtual wallet is a substandard PayPal clone: it has fewer features than the original, while offering no advantages. So what's the point?
View ArticleUsing ‘Big Data’ to Fight Hackers
Though Visa and its rivals have been investing heavily in their fraud-prevention systems, their efforts are yet to produce measurable results in the U.S.
View ArticleHow China UnionPay Is Beating out Visa and MasterCard at Home and Abroad
China UnionPay now has more payment cards in circulation than any of its rivals and is on its way to surpass Visa as the biggest card processor by volume.
View ArticlePayPal vs. MasterCard – The Empire Strikes Back
MasterCard will start charging a digital wallet fee. PayPal is the main target, but will be joined by other digital wallet operators, such as Square and Google.
View ArticleWhy You Should Cut up Your MasterCard and Visa and Switch to AmEx or Discover
AmEx is ranked highest for customer satisfaction for the 7th year in a row; Discover is close second and Visa and MasterCard issuers are lagging far behind.
View ArticleThe Clash of Credit Card Titans: How China UnionPay Is Surging Ahead
China UnionPay - the Chinese credit card champion - is about to overtake MasterCard by processing volume and is likely to surpass Visa in as few as 2 - 3 years. Read more on the same topic:Credit vs....
View ArticleCredit vs. Debit and China vs. the U.S.
In the US, Visa and AmEx are growing faster than their domestic rivals - MasterCard and Discover - but globally, China UnionPay is expanding faster than anyone. Read more on the same topic:The Clash of...
View ArticleIndependent Sales Organization (ISO) vs. Sales Agent
ISO, MSP and sales agent are terms which in the payment card industry are often used interchangeably, yet each one of them designates a unique entity. Read more on the same topic:Americans Spend Big on...
View ArticleHow to Recognize a Valid Credit Card
Every valid credit card incorporates security elements designed to enable merchants to verify the card's authenticity and you should know how to inspect them. Read more on the same topic: 13 Signs of a...
View ArticleHow Visa Manages Chargebacks and What You Should Do to Minimize Them
Some chargebacks are beyond your control, but there is quite a bit you can do to protect yourself against them and minimize losses and you should do it all. Read more on the same topic: How to Manage...
View ArticleHow to Manage Chargebacks Caused by Missing Transaction Information
Visa uses three different codes to designate chargebacks caused by non-receipt of transaction information by the card issuer: 60, 75 and 79. Read more on the same topic: How to Manage Chargebacks...
View ArticleHow to Manage Fraud-Related Chargebacks
Visa uses four different codes to designate fraud-related chargebacks: 57, 62, 81 and 83. Here is what you need to know about how to manage each one of them. Read more on the same topic: How to Manage...
View ArticleHow to Manage Chargebacks Caused by Authorization Errors
Visa uses four different codes to designate chargebacks caused by authorization errors: 71, 72, 73 and 77. Here is how to manage each one of them. Read more on the same topic: How to Manage Chargebacks...
View ArticleHow to Manage Chargebacks Caused by Processing Errors
Visa uses six different codes to designate chargebacks caused by processing errors: 74, 76, 80, 82, 86 and 96. Here is how to manage each one of them. Read more on the same topic: How to Manage...
View ArticleHow to Manage Chargebacks Resulting from Cancellations and Returns
Visa uses three different codes to designate chargebacks resulting from cancellations and returns: 41, 53 and 85. Here is how to manage each one of them. Read more on the same topic: How to Manage...
View ArticleHow to Manage Chargebacks Issued when Ordered Goods Are not Received
Visa uses two different codes to designate chargebacks resulting from the non-receipt of goods and services: 30 and 90. Here is how to manage each one of them. Read more on the same topic: How to...
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