Stax

DECEMBER 9, 2024

This is why it’s vital to have a good understanding of: Why credit card chargebacks happen Why they’re becoming more common Steps you can take to reduce chargebacks What to do when you receive a chargeback Luckily for you, that’s exactly what this guide is for. What Are Credit Card Chargebacks?

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Credit Cards Process Disputes Card Issuer 88

Innovative Payments Association

MARCH 7, 2024

Guest post by Emily Rueth , Managing Director & Founder of Vicuse Payments Advisors For card issuers, embracing and implementing even the most basic use cases for artificial intelligence (AI) can revolutionize your operations and enhance customer experiences. AI isn’t just a buzzword — it’s here to stay.

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Card Issuer Issuers Payments Advisors Advisors 52

Fintech Finance

AUGUST 20, 2024

Experts at leading chargeback technology platform Chargebacks911 report that AI is one of the key drivers to combat emerging payment threats and prevent disputed transactions. This dispute process is an act of parliament entitled to cardholders and is designed as a safety net to help consumers in cases of fraud or unfair merchant practices.

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Disputes Transactions AI Issuers 98

PYMNTS

OCTOBER 15, 2018

American Express, the payments company, and Ethoca , a provider of collaboration-based technology solutions for merchants and card issuers, announced on Monday (Oct. In a press release , the companies said the partnership is aimed at helping American Express merchants and card members in the U.S.

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Disputes Card Issuer Issuers Transactions 49

Clearly Payments

SEPTEMBER 18, 2024

A chargeback is a reversal of a credit card transaction initiated by the cardholder’s bank, usually as a result of a dispute by the customer over the purchase. Key Activities of a Chargeback Team Reviewing Dispute Notices: Receiving and thoroughly investigating dispute notices from credit card issuers is the first task.

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Disputes Fraud Prevention Payments Credit Cards 93

PYMNTS

SEPTEMBER 29, 2020

Mastercard, through its collaborative fraud and dispute resolution technology Ethoca , will now offer a new version of online statements with added logos and clear business names for each transaction. This can lead to consumers contacting their banks, which could incur costs and waste time with unnecessary chargebacks.

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Issuers Visa Transactions Disputes 97

Fi911

AUGUST 7, 2024

These codes play a crucial role in organizing disputes and guiding the subsequent actions required. Because chargebacks can impose significant costs on both merchants and card issuers, employing a uniform set of reason codes facilitates the efficient management and resolution of these issues.

Visa 87

Visa Disputes Authorization CHIPS 87

Fi911

JULY 19, 2024

Visa chargeback reason codes are a set of codes used by Visa to classify various reasons for chargebacks, which are disputes filed by cardholders against merchants. These reason codes help in categorizing the dispute and determining the appropriate course of action. Other Fraud: Card-Present Environment / Condition 10.4:

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Disputes Duplicate Non-Bank Authorization 84

PYMNTS

MARCH 19, 2018

Whether friendly fraud or genuine fraud, for merchants and card issuers, the impact is growing and comes with a host of negative consequences for the entire ecosystem — especially customers. Cards stay active, rather than being canceled, and merchants get the dual benefit of avoiding chargebacks while preserving transaction revenues.

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Card Issuer API Disputes Issuers 61

Clearly Payments

AUGUST 6, 2024

Chargeback Frequency American Express has a unique position in the market due to its dual role as a card issuer and network, which affects its chargeback dynamics. Win Rates Merchants’ success in disputing chargebacks varies across different card networks.

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Disputes Visa Issuers Duplicate 86

PYMNTS

OCTOBER 30, 2020

Automating Dispute Resolutions. Another common frustration that can be improved through the use of automation is dispute resolution. Payments disputes and chargebacks are on the rise, and 61 percent of merchants expect to see increased dispute rates in the near future. Cloud Payments Integration.

Automation 91

Automation Process Disputes AML 91

The Payments Association

JANUARY 3, 2025

Katherine Bailey (Valor Hospitality Europe Limited) explained how customers manipulate chargeback systems to claim refunds for services theyve already consumed: The guests enjoy a stay or experience and then dispute the charges. The card issuers often side with the customer without consulting us, which is unfair and costly.

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Fraud Detection Fraud Prevention Participant Financial Crimes 88

Fintech News

JANUARY 7, 2025

Gan Kim Yong Deputy Prime Minister Gan Kim Yong emphasised the comprehensive security measures already in place, including safeguards implemented by global card schemes such as Visa and Mastercard, alongside card issuers like banks. Over time, these measures have been strengthened to combat fraud effectively.

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Credit Cards Push-to-Card Card Issuer Authentication 72

PYMNTS

APRIL 15, 2020

“The only way the industry can solve this growing and costly problem is through industry-wide collaboration between card issuers, merchants and card brands sharing purchase insight in real time through the channels consumers know and trust,” he added.

Online and Mobile Banking 67

Online and Mobile Banking Card Issuer Disputes Visa 67

The Fintech Times

JANUARY 2, 2025

PXP Financial , a global acquiring, payment, fraud and data analysis service provider, has joined forces with financial dispute management solution provider DisputeHelp, to launch two new Visa solutions to combat first-party fraud and reduce chargeback for merchants.

Fraud Prevention 59

Fraud Prevention Disputes Issuers Card Issuer 59

Fi911

AUGUST 16, 2024

American Express chargeback reason codes are a collection of identifiers used to classify different chargeback situations, reflecting the disputes raised by cardholders against sellers. These codes are vital for organizing disputes and determining the necessary next steps.

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Disputes Non-Bank EMV Authorization 70

Fi911

MAY 22, 2024

This process can be triggered for various reasons, such as a disputed charge, an error in the transaction, or fraud detection. Disputed Charges : When a payer disputes a charge, possibly due to not receiving the goods or services promised, a payment reversal can be initiated. What is a Chargeback?

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Payer Address Verification System (AVS) Disputes Payee 84

Clearly Payments

OCTOBER 22, 2024

This guide explains how a PIN functions in credit and debit card payments and its importance for merchants. A PIN is a four- to six-digit numerical code assigned to a credit or debit card by the card issuer or chosen by the cardholder. If the wrong PIN is entered too many times, the card may be temporarily blocked.

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Debit Card Credit Cards Point-of-Sale (POS) Encryption 91

Clearly Payments

NOVEMBER 18, 2024

Here are some other articles on chargeback management: How to Build a Chargeback Payments Team in your Company How to Win Chargeback Disputes What is a Good Credit Card Chargeback Rate for Merchants? Skills Required: Attention to detail, familiarity with card network rules, and proficiency in analyzing transaction data.

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PCI DSS Address Verification System (AVS) Disputes Card Network Rules 59

PYMNTS

MAY 5, 2020

There’s a legitimate wave of disputes and chargebacks that are hitting the travel and entertainment verticals as consumers cancel trips, postpone weddings or try to get credit for flights that simply cannot be taken right now. The Issuer Side Of The Equation. They’re trying to help their cardholders,” she said.

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Disputes Issuers Visa Identity Theft 83

PYMNTS

SEPTEMBER 14, 2020

Merchants also appear reluctant to dispute friendly fraud , as many seem to believe they do not have the resources to do so or that they cannot adequately prove chargebacks are fraudulent. FIs also lose money to fraudulent chargebacks because they must dedicate a significant amount of staff time to investigating claims and managing disputes.

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AI Disputes Push-to-Card Acquirers 70

Payment Savvy

AUGUST 3, 2023

When you run any BIN number through a checking system, you end up with accurate information about the geolocation, card issuer, and card type. Since online banking systems have become more popular and virtual cards have become a norm, BIN numbers aren’t necessarily bank-issued. Why is there an 8-digit BIN number?

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PYMNTS

SEPTEMBER 15, 2020

Resolving disputes can be time intensive, forcing banks to take on the administrative tasks required to gather and assess evidence. Card issuers that believe chargeback claims are valid then ask merchant acquirers to send funds on behalf of merchants to cover the transaction reversals — unless the sellers wish to dispute the claims.

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AI Disputes Issuers Push-to-Card 62

PYMNTS

AUGUST 25, 2016

Coles is also a credit card issuer and says that a collective negotiation to allow third-party digital wallet apps on Apple hardware would provide more choices to the consumer and be in their best interest. ” Apple has said that opening up the iPhone’s NFC would “ fundamentally diminish ” its security.

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Disputes Card Issuer Issuers Settlement 40

PYMNTS

MARCH 13, 2019

That spans account origination, when consumers establish digital relationships with merchants and banks or simply make a purchase, to addressing “what happens if something goes wrong” and there is a disputed transaction or actual fraud afoot.

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Visa Disputes Issuers Authentication 74

Segpay

APRIL 16, 2024

Cardholders dispute a transaction with their bank, resulting in a reversal of funds. This occurs when customers intentionally dispute legitimate transactions just to get a refund of their payment for products or services they did receive. Last year, the payment business suffered an estimated 238 million chargebacks.

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Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

PYMNTS

MARCH 31, 2020

Merchants will also be able to avoid chargeback fees if customers file a dispute with their credit card issuer, at least through the end of April. Merchants will also have twice as much time to respond to a customer dispute.

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PayPal Debit Card Venmo Disputes 52

Clearly Payments

FEBRUARY 7, 2024

Chargeback Rate The chargeback rate measures the percentage of transactions that result in chargebacks, which occur when customers dispute a transaction with their card issuer. Monitoring chargeback rates helps merchants identify potential fraud or disputes and implement preventive measures to mitigate risks.

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Process PCI DSS Processing Costs Settlement 78

PYMNTS

JULY 14, 2020

Our research reveals that while credit-centric revolvers and debit-centric consumers are the most interested in downloading better card apps, the features they find most compelling diverge in interesting ways. About The Playbook.

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Debit Card Consumer Credit Cards Card Issuer 78

Finovate

JUNE 6, 2024

Yaacov Martin : The Consumer Financial Protection Bureau (CFPB) recently released an interpretive rule for the BNPL industry, which classifies BNPL providers as credit card issuers under the Truth in Lending Act. Martin : The CFPB’s new interpretive rule might have an impact on international BNPL operations as this U.S.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

PayHawk

APRIL 18, 2023

Address Verification Service (AVS) A fraud prevention tool that checks the billing address provided by the cardholder against the address on file with the card issuer. Annual Percentage Rate (APR) The annual interest rate charged by a credit card issuer on outstanding balances.

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Process Card Issuer Online and Mobile Banking Issuers 52

PYMNTS

DECEMBER 18, 2020

Most customers bypass restaurants entirely when trying to perpetrate chargeback fraud , with 76 percent of cardholders going directly to their payment card issuers. This gives QSRs no chance to weigh in on customers’ assertions and dispute any illegitimate claims.

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Fraud Detection Security Credit Cards Card Issuer 91

Payment Savvy

OCTOBER 22, 2020

Friendly fraud is when consumers pay for a product or service online using their credit card, then contact their credit card issuer to dispute that transaction. Some of the reasons customers will give when contacting their credit card issuer about friendly fraud include: The product/service was not delivered.

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Card Issuer Credit Cards Returns Issuers 52

PYMNTS

JUNE 23, 2016

Amex will also limit the number of counterfeit fraud chargebacks to a total of 10 per card account. Under these new policies, the card issuer, instead of the merchant, will cover the liability for the additional counterfeit fraud transaction disputed from a card account after those 10 chargebacks.

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EMV Chip Cards CHIPS Disputes 45

PYMNTS

JULY 16, 2018

The former typically carry the same liability protections as those offered by a debit card, for example, while the latter do not offer consumers the same for unauthorized charges. Payroll card issuers are also required to disclose their fee structures and customer dispute resolution process, but reloadable card issuers are not.

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Payroll Card Issuer Debit Card Push-to-Card 42

PYMNTS

NOVEMBER 22, 2016

As the company grew, it branched out to work with domestic and international card issuers. This gave us a very different perspective on how card issuers view chargebacks and fraud,” said Katz. “It’s

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Facilitators Card Issuer Issuers Online and Mobile Banking 47

The Paypers

MAY 31, 2016

(The Paypers) The Online Payment Exchange ( ONPEX ) has announced a partnership with Ethoca to help CNP merchants and card issuers to stop ecommerce fraud and disputes.

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Card Issuer Disputes Issuers Payments 28