Visa Transaction Advisor (VTA) users have reported a 54% decline in counterfeit fraud rates and a 51% decline in lost and stolen fraud chargeback rates. VTA extends the power of Visa’s global risk intelligence to fuel merchants, helping to reduce fraud at the gas pump. More than 35,000 gas stations are actively using the service…
TSYS has inked an agreement with Ethoca, a global provider of collaboration-based technology that enables card issuers and e-commerce merchants to stop card-not-present fraud, recover lost revenue and eliminate chargebacks. Launched through this agreement, the TSYS Transaction Recovery Network, powered by Ethoca, provides near real-time notification of confirmed fraud that empowers issuers and online merchants…
When the Federal Deposit Insurance Corp. (FDIC) disclosed in 2014 that they were withdrawing a list they created of merchant categories that were deemed high risk and warranted heightened attention, they acknowledged that this list was used by issuing banks as justification to sever ties with merchants who fell into these categories – leaving the…
In a recent tip sheet, E-Commerce 4 IM highlights five different points that are essential to helping both online retailers and more traditional brick and mortar stores catch fraud before more charges ensue or chargebacks occur. For example, point number one is to be on the lookout for unusually large orders for items not generally…
For Visa and MasterCard transactions, chargebacks merchants receive are, on average, 1.6 basis points (bps) of sales number and 6.5 bps of sales value. About 70% to 80% of chargebacks are resolved as merchant liability. The most common chargeback reason is fraud, which accounts for about 50% of the total chargebacks. A new report from…
CardFlash News Briefs: PURCH (ShopSavvy); CLEARANT (OpenCart); PAYCERTIFY (Paytronicks); and EC4IM (chargebacks).
CardFlash News Briefs: INSIDE (award); KOUNT (funding); I2C (Canada); and COMDATA (network).
Dozens of U.S. cities had chargeback rates that exceeded the 1% threshold set by Visa and MasterCard. Within the Northeast region, there are 10 cities/ZIP codes with the highest chargeback statistics.
Shopify announced the launch of its new credit card reader that will allow Shopify merchants in the U.S. to securely accept chip and pin, tap, and swipe credit and debit cards as well as contactless payment technologies like Apple Pay.
Electronic Commerce International (ECI), a registered provider of reliable Visa and MasterCard credit card processing for businesses completed a seamless and secure connection with Xero: Accounting Software & Online Bookkeeping. The integration of ECI with Xero has been fully tested and is ready for use by new and existing ECI merchants.
Feedzai, a data science company that uses real-time, machine-based learning to analyze big data and minimize risk in the financial services industry, inked a partnership with Socure, the industry leader in real-time online identity verification solutions.
The third annual Key Business Drivers & Opportunities in Cross-Border E-Commerce survey is now open for input from merchants and payment professionals from around the world. Last year’s survey polled nearly 700 e-commerce and omnichannel merchants, payment service providers, acquirers and consultants, quantifying stakeholder attitudes about this increasingly important segment of payments.